Stevens Textile\'s 2010 financial statements are shown below. Balance Sheet as o

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Stevens Textile's 2010 financial statements are shown below.

Balance Sheet as of December 31, 2010 (Thousands of Dollars)

Income Statement for December 31, 2010 (Thousands of Dollars)

Cash $ 1,080 Accounts payable $ 4,320 Receivables 6,480 Accruals 2,880 Inventories 9,000 Notes payable 2,100 Total current assets $16,560 Total current liabilities $ 9,300 Net fixed assets 12,600 Mortgage bonds 3,500 Common stock 3,500 Retained earnings 12,860 Total assets $29,160 Total liabilities and equity $29,160

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