2018 2018 2019 Assets $ $ $ Current assets Cash Accounts receivable Inventory Total 5,198 7,707 12,150 25,055 FAIRWAY GOLF, INC. 2019 Liabilities and owners' equity Current liabilities $ 5,727 Accounts payable 8,477 Notes payable 21,956 Other $ 36,160 Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings 79,412 Total $ 115,572 Total liabilities and owners' equity 3,954 3,045 152 7,151 24,400 3,786 3,318 179 7.283 16,500 $ $ $ " Fixed assets Net plant and equipment Total assets 40,000 28,805 68,805 100,356 $ 36,600 55,189 $ 91,789 $ 115,572 $ 75,301 100,356 $ $ FAIRWAY GOLF, INC. 2019 Income Statement $ $ Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income 233,854 181,312 8,888 43,654 1,911 41,743 6,333 35,410 $ $ Dividends Retained earnings $ 16,000 19.410