The financial statements of Clearwater Inc. appear below: CLEARWATER INC. Comparative Balance Sheet December 31 2021 2020 Assets Cash 35,000 20,000 Accounts receivable 112,000 103,000 Inventory 425,000 460,000 Property, plant and equipment 750,000 800,000 Accumulated depreciation 375,000 330,000 Total assets 947,000 1,053,000 Liabilities & Shareholders' Equity Accounts payable 42,000 68,000 Income taxes payable 18,000 13,000 Bonds payable 825,000 860,000 Common shares, 10,000 shares issued Retained earnings 55,000 42,000 7,000 70,000 Total liabilities and shareholders equity 947,000 1,053,000