Just need #5

value 1.75 points The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses $ 24,000 190,000 330,000 9,000 553,000 890,000 Total current assets Property and equipment, net Total assets Liabilities and Stockholders' Equity $1,443,000 Liabilities: $ 220,000 Current liabilities Bonds payable, 1096 330,000 550,000 $ 100,000 Total liabilities Stockholders' equity Common stock, $10 par value Retained earnings 793,000 893,000 $1,443,000 Total stockholders' equity Total liabilities and equity Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $2,190,000