The following information is taken from the 2020 annual report of Oriole, Inc. Oriole's fiscal year ends December 31 of each year. Oriole's December 31, 2020, balance sheet is as follows. Assets Cash Oriole, Inc. Balance Sheet December 31, 2020 $430 Inventory 1,800 Total current assets 2,230 Plant and equipment 2,100 Accumulated depreciation (168) Total assets 4,162 Liabilities Bonds payable (net of discount) $1,426 Stockholders' equity Common stock 1,500) Retained earnings 1,236 Total liabilities and stockholders' equity $4,162 Note X: Long Term Debt: On January 1, 2019. Oriole issued bonds with face value of $1,500 and a coupon rate equal to 10%. The bonds were issued to yield 12% and mature on January 1, 2024