You are the new manager of the Duke Snider MotelIn order to better understand the motel's financial situation, you decide to examine the financial statements for the year just ended ()The motel's balance sheet and condensed income statement are as follows Duke Snider Motel Balance Sheet December 31, 20X4 Assets Current Assets Cash Accounts Receivable Inventories Total Current Assets $ 95,000 100,000 5,000 200,000 Property and Equipment: Land Building (net) Furniture & Equipment (net) Total Property and Equipment Total Assets 60,000 300,000 80,000 440,000 640,000 210,000 Liabilities and Owners Equity Current Liabilities Long-Term Liabilities Note from Owner Mortgage Payable Total Liabilities 40,000 80,000 330,000 Owners Equity Common Stock Retained Earnings Total Owners Equity Total Liabilities and OwnersEquity 100,000 210,000 31000000 5+4\4)