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The December 31, 2021, balance sheet of Chen, Incorporated,showed long-term debt of $1,380,000 and the December 31, 2022,balance sheet showed long-term debt of $1,540,000. The

The December 31, 2021, balance sheet of Chen, Incorporated,showed long-term debt of $1,380,000 and the December 31, 2022,balance sheet showed long-term debt of $1,540,000. The 2022 incomestatement The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of \( \$ 1,380,000 \) and the December 31,2022 , balance sheet showed long-term debt of \( \$ 1,540,000 \). The 2022 i 2 answers

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