Quantitative Problem: Rosnan Industries' 2013 and 2012 balance sheets and income statements are shown below Balance Sheets: 2012 2013 $100 $85 Cash and equivalents Accounts receivable 275 300 250 Inventories 375 $635 Total current assets $750 2,300 Net plant and equipment 1,490 Total assets $3,050 $2,125 $150 $85 Accounts payable Accruals 50 Notes payable 150 $375 Total current liabilities $210 Long-term debt 450 290 Common stock 1,225 1,225 400 Retained earnings 1,000 Total liabilities and equity $3,050 $2,125