The income statement and balance sheet for HOYT, Inc. are provided below. (Note that the reported figures are expressed in thousands of dollars). HOYT, INC. Balance Sheets as of December 31, 2020 and 2021 (in 000s) 2020 2021 2020 2021 Assets Liabilities and Owners' Equity Current assets Cash Current liabilities Accounts receivable Inventory $ 210 $ 180 325 325 180 Accounts payable $ 250 $ 300 Notes payable 260 260 315 Total $ 715 $ 820 Total $ 510 $ 560 Long-term debt $1,000 $ 1,120 Owners' equity Common stock $ 305 $ 282 Accumulated retained Fixed assets Net plant and equipment 400 508 earnings $1,500 $1,650 Total Equity $ 705 $ 790 Total assets $ 2,215 $2,470 Total liabilities and owners' equity $2,215 $ 2,470