The comparative balance sheets of Windsor Inc. at the beginning and the end of the year 2020 are as follows. WINDSOR INC. BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash Accounts receivable $46,130 94,430 $ 14,130 $32,000 Inc. 90,300 4,130 Inc. Equipment 42,430 24,300 18,130 Inc. Less: Accumulated Depreciation-Equipment 20,430 Total $162,560 11,000 $117,730 9,430 Inc. Liabilities and Stockholders' Equity Accounts payable $23,430 $ 17,300 6,130 Inc. Common stock 101,130 82,300 18,830 Inc. Retained earnings Total 38,000 $162,560 18,130 $117,730 19,870 Inc. Net income of $47,430 was reported, and dividends of $27.560 were paid in 2020. New equipment was purchased and none was sold.