The current sections of Sage Hill Inc.s balance sheets at December 31, 2021 and 2022, are presented here. Sage Hill Inc.s net income for 2022 was $175,950. Depreciation expense was $31,050.

		2022		2021
Current assets
Cash		$120,750		$ 113,850
Accounts receivable		92,000		102,350
Inventory		193,200		197,800
Prepaid expenses		31,050		25,300
Total current assets		$437,000		$439,300
Current liabilities
Accrued expenses payable		$ 17,250		$ 5,750
Accounts payable		97,750		105,800
Total current liabilities		$115,000		$ 111,550