Comparative Balance Sheets Current Year Assets Cash Accounts receivable 63,625 Inventory 295,156 264 , saa Prepaid expenses Total current assets 451, 296 417 Equipment 144 , saa 121, zaa Accum. depreciationEquipment Total assets 485 , sea Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities 142, 775 Long-term notes payable Total liabilities 138, 541 204,525 Equity Common stock, $5 par value 182, 25a 163,25a Paid-in capital in excess of Retained earnings 174 , 88a 117 , sas Total liabilities and equity Prior Yea r 86 , saa 2,155 (52, sae) 8, saa 61, 75a par , c ommon December 31 stock 69 , 4aa 85 , 1, 34a (43, 125) $ 552,671 66, 141 13, eaa 80, 041 58, saa 57 , eaa $ 552,671 $ 134,175