Upside Surf Rentals 2020 Balance Sheet Current Assets Current Liabilities Cash 1,500 Accounts Payable 4,500 Accounts Receivable 4,650 Notes Payable 7,800 Inventory 7,800 Prepaid Expenses 3,300 Total Current Assets 17.250 Total Current Liabilities 12,300 Net Fixed Assets Total Assets 58,500 Bonds Payable 12,000 Total Liabilities 24,300 Common Stock 22,500 Retained Earnings 28,950 75,750 Total Liab. & Equity 75,750 Partial Statement of Changes in Financial Position or Statement of Cash Flows (from Operating Activities Net Income 2019 to 2020) Depreciation or Amortization Expense Accounts Receivable Inventory 66,000 6,000 300 -1,000 Prepaid Expenses 0 Accounts Payable 450 Notes Payable 0 Net Cash From Operations