The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: $ 21,000 200,000 390,000 10,000 621,000 830,000 $1,451,000 Cash Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets Property and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 250,000 390,000 640,000 Bonds payable, 12% Total liabilities Stockholders' eguity: $120,000 691,000 811,000 Total liabilities and stockholders' equity$1,451,000 Common stock, $5 par value Retained earnings Total stockholders' equity