Write a one- to two-page memo explaining the following:

• Analyze the companys 2018 balance sheet, including an evaluation of the current ratio and the debt to equity ratio.
• State the differences between balance sheet reporting according to U.S. Generally Accepted Accounting Principles (GAAP) versus those prepared using International Financial Reporting Standards (IFRS).

  GANDER, INC.
  Balance Sheet
  As of December 31, 2018
  ASSETS
  Current assets:
  Prepaid Interest	$ 3,070
  Cash	$ 122,106
  Accounts receivable	$ 44,948
  Inventories	$ 180,360
  Total current assets			$ 350,484
  Property, plant, and equipment:
  Plant Assets (net)	$ 300,000
  Less: Accumulated depreciation	$ (170,000)
  Net Plant Assets			$ 130,000
  TOTAL ASSETS			$ 480,484
  LIABILITIES
  Current Liabilities:
  Accounts payable	$ 34,616
  Interest payable	$ -
  Notes payable	$ 46,200
  Total Current Liabilities			$ 80,816
  STOCKHOLDERS' EQUITY
  Common Stock	$ 250,000
  Retained Earnings	$ 149,668
  Total Stockholders' Equity			$ 399,668
  TOTAL LIABILITIES AND			$ 480,484
  STOCKHOLDERS' EQUITY