Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $63.000 $22,000 Accounts receivable 85,000 76,000 Inventory 170,000 189,000 Land 75,000 100.000 Equipment 270,000 200,000 Accumulated depreciation-equipment (66,000) (32,000) Total $597,000 $555,000 Liabilities and Stockholders' Equity Accounts payable $39,000 $47,000 Bonds payable 150,000 200,000 Common stock ($1 par) 216,000 174,000 Retained earnings 192,000 134,000 Total $597,000 $555,000