The balance sheets for Plasma Screens Corporation and additional information are provided below. PLASMA SCREENS CORPORATION Balance Sheets December 31, 2024 and 2023 2024 2023 Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable $ 242,000 98,000 105,000 $ 130,000 102,000 90,000 5,000 3,000 580,000 580,000 890,000 (528,000) $ 1,392,000 $109,000 770,000 (368,000) $ 1,307,000 $95,000 13,000 7,000 9,000 6,000 110,000 220,000 800,000 800,000 357,000 173,000 Total liabilities and equity $ 1,392,000 $ 1,307,000 Stockholders' equity: Common stock Retained earnings Additional information for 2024: 1. Net income is $184,000. 2. Sales on account are $1,890,000. (All sales are credit sales.) 3. Cost of goods sold is $1,394,250.