! Required information 2024 2023 Amount % Amount % Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment $ 126,000 $ 86,000 68,400 35,500 70,800 93,500 9,000 4,500 77,400 15,200 159,000 168,000 142,800 139,500 Less: Accumulated depreciation (53,400) (27,000) Total assets $ 600,000 $ 515,200 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable $ 36,600 $ 53,500 24,000 12,000 16,800 13,500 Income tax payable Long-term liabilities: Notes payable Stockholders' equity: 178,800 124,500 Common stock 234,000 234,000 Retained earnings 109,800 77,700 Total liabilities and stockholders' equity 600,000 $ 515,200