The financial statements for Castile Products, Inc., are given below Castile Products, Inc. Balance Sheet Decermber 31 Assets Current assets: $ 19,000 190,000 370,000 8,000 Cash Accounts receivable, net Merchandise inventory Prepaid expenses 587,000 900,000 Total current assets Property and equipment, net Total assets Liabilities and Stockholders' Equity $1,487,000 Liabilities: $ 210,000 Current liabilities Bonds payable, 11% 340,000 550,000 s 160,000 Total liabilities Stockholders equity: Common stock. $10 par value Retained earnings 777,000 937,000 $1,487,000 Total stockholders' equity Total liabilities and equity