Following is a partially completed balance sheet for Epsico, Inc., at December 31, 2013, together with comparative data for the year ended December 31, 2012. From the statement of cash flows for the year ended December 31, 2013, you determine the following: Net income for the year ended December 31, 2013, was $78.
Dividends paid during the year ended December 31, 2013, were $24.
Cash increased $24 during the year ended December 31, 2013.

The cost of new equipment acquired during 2013 was $45; no equipment was disposed of. There were no transactions affecting the land account during 2013, but it is estimated that the fair market value of the land at December 31, 2013, is $126.

Required:
Complete the balance sheet at December 31, 2013.

Assets 2016 2015 Liabilities and Stockholders’ Equity 2016 2015
Current assets Current liabilities
Cash $152 $120 Note payable $196 $160
Accounts receivable 504 480 Accounts payable 492 440
Inventory 964 920 Total current liabilities $688 $600
Total current assets $1,620 $1,520 Long-term debt $320
Total liabilities $920
Land $100 $100 Stockholders’ Equity
Equipment 1,560 1,500 Common stock $800 $800
Less: Accumulated depreciation (720) (640) Retained earnings 760
Total land & equipment $940 $960 Total stockholders’ equity $1,560
Total assets $2,560 $2,480 Total liabilities & stockholders’ equity $2,560 $2,480