The financial statements for Castile Products, Incorporated are given below: Castile Products, Incorporated Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets Property and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 11% Total liabilities Stockholders' equity: Common stock, $5 per value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Castile Products, Incorporated Income Statement For the Year Ended December 31 $ 23,000 210,000 400,000 10,000 643,000 830,000 $ 1,473,000 $ 250,000 300,000 550,000 $ 110,000 813,000 923,000 $ 1,473,000