Wildhorse Ltd., which follows ASPE had the following comparative statement of financial position: Wildhorse Ltd. Comparative...

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Wildhorse Ltd., which follows ASPE had the following comparative statement of financial position: Wildhorse Ltd. Comparative Statement of Financial Position Assets Cash Accounts receivable Inventory Prepaid insurance Equipment December 31 2021 2020 $ 83,500 $ 53,300 136,000 101,100 76,500 120,700 9,600 8,100 300,500 274,600 (68,500) (50,000 ) $ 537,600 $ 507,800 Accumulated depreciation-equipment Total assets Liabilities and Shareholders' Equity Accounts payable $ 89,000 $ 73,100 Salaries and wages payable 13,000 8,100 Income taxes payable 17,000 19,000 Mortgage payable 111,000 120,000 Common shares 213,500 210,500 Retained earnings 94,100 77,100 Total liabilities and shareholders' equity $ 537,600 $ 507,800 Wildhorse Ltd., which follows ASPE had the following comparative statement of financial position: Wildhorse Ltd. Comparative Statement of Financial Position Assets Cash Accounts receivable Inventory Prepaid insurance Equipment December 31 2021 2020 $ 83,500 $ 53,300 136,000 101,100 76,500 120,700 9,600 8,100 300,500 274,600 (68,500) (50,000 ) $ 537,600 $ 507,800 Accumulated depreciation-equipment Total assets Liabilities and Shareholders' Equity Accounts payable $ 89,000 $ 73,100 Salaries and wages payable 13,000 8,100 Income taxes payable 17,000 19,000 Mortgage payable 111,000 120,000 Common shares 213,500 210,500 Retained earnings 94,100 77,100 Total liabilities and shareholders' equity $ 537,600 $ 507,800