XYZ Company Balance Sheet December 31, 2020 Assets Liabilities Cash 6,000 Accounts payable 12,000 Receivables 21,000 Notes payable, short term 20,000 Inventory 50,000 Total Liabilities 32,000 depreciation Equipment, net of accumulated " Vehicle, net of accumulated depreciation 45,000 Equity 105.000 Common shares 150,000 Retained earnings Total Equity ? Total Assets Total Liabilities and Equity ? Statement of Changes in Equity for the year ended December 31, 2020 Common Shares Retained Earnings Total Equity Opening balance, January 1 110,000 30,000 140,000 Issued common shares: 40,000 40,000 25,000 25,000 Profit ? Dividends Ending balance, December 31 150,000 ?