The financial statements for Armstrong and Blair companies are summarized here Armstrong Blair Company Company Balance Sheet Cash Accounts Receivable, Net Inventory Equipment, Net Other Assets $ 39,000 44,000 108,000 188,000 49,000 26,000 34,000 48,000 308,000 412,000 Total Assets $428,000 $828,000 Current Liabilities Note Payable (long-term) $108,000 68,000 58,000 378,000 Total Liabilities Common Stock (par $10) Additional Paid-in Capital Retained Earnings 176,000 154,000 34,000 64,000 436,000 204,000 114,000 74,000 Total Liabilities and Stockholders' Equity $428,000 $828,000 Income Statement Sales Revenue Cost of Goods Sold Other ExpensesS $462,000 $822,000 409,000 319,000 249,000 164,000 Net Income $ 49,000 94,000 Other Data Estimated value of each share at end of year Selected Data from Previous Year Accounts Receivable, Net Inventory Equipment, Net Note Payable (long-term) Total Stockholders' Equity $19$26 $ 24,000 96,000 188,000 68,000 235,000 42,000 49,000 308,000 74,000 444,000