The Extra Surplus Company's Balance Sheet for December 31, 2020 and the Income Statement for 2021 are shown below. Extra Surplus Company Balance Sheet December 31, 2020 Assets Cash $ 12,500 Accounts Receivable 6,250 Inventory 15,000 Property and Equipment, Net 25,000 $ 58,750 Liabilities and Stockholders Equity Accounts Payable $ 12,500 Notes Payable, Long-Term 6,250 Common Stock 25,000 Retained Earnings 15,000 $ 58,750 Extra Surplus Company Income Statement For the Year Ended December 31