The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS CORPORATION Balance Sheets December 31, 2024 and 2023 2024 2023 Assets Current assets: Cash Accounts receivable. Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable $144,850 76,400 91,000 3,200. 450,000. 56,000 $156,500 90,000 76,400 1,600 460,000 650,000 (260,000) $1,174,500 (418,000) $1,113,450 Interest payable $95,000 6,750 $81,400 13,500 7,200 4,600 112,500 225,000 680,000 680,000 212,000 170,000 $1,113,450 $1,174,500 Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional Information for 2024: 1. Net income is $65,000. 2. The company purchases $106,000 in equipment. No equipment was sold.