A comparative balance sheet for Lomax Company containing data for two years is as follows: Lomax Company This Year Last Year Assets Current assets: Cash and cash equivalents S 90,000 S 65,200 Inventory Prepaid expenses 628,000 657,500 630,800 439,000 25,200 14,500 1,374,000 1,176,200 Total current assets Property, plant, and equipment 2465,000 1,876,000 Less accumulated depreciation 637,800 577,100 1,827,200 1,298,900 119,900 187,000 139,000 79,500 3,460,100 2,741,600 Net property, plant, and equipment Loans to subsidiaies Total assets Liabilities and Stockholders Equity Current liabilities $ 900,400 $ 589,000 Accounts payable Accrued liabilities 36,400 59,100 157,700 133,200 1,094,500 781,300 715,000 457,000 1,809,500 1,238,300 Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders'equity: 1,128,000 1,019,000 522,600 484,300 1,650,600 1,503,300 Common stock Retained earnings Total stockholders equity Total liabilities and stockholders' 3.460.100 2.741.600 equity