The financial statements of Kit's Cafe include the following items: 2020 2019 Balance Sheet $ $ Cash 56,800 44,800 Short term investments 66,400 22,400 Net accounts receivable 155,200 109,600 Inventory 21 0,400 204,800 Prepaid expenses 19,200 38,400 Total current assets 508,000 420,000 Total current liabilities 318,400 220,400 Income Statement Net credit sales 1,113,600 Cost of goods sold 760,600 Net prot/Net income 100,000 Credit policy: Invoices payable within 30 days \fCash at Bank Date Item Ref Debit Credit Balance 1/12/2020 Balance bd $ 5,000.00 DR 31/12/2020 Cash Rec 12 11,476.00 $ 16,476.00 DR 31/12/2020 Cash Pay 12 14,770.00 $ 1,706.00 DR