Assets 2018 2019 Cash $17,000 $12,400 Short-term investments. 48,600 18,000 Accounts receivable 351,200 632,160 Inventories 710,200 1,287,360 Total current assets $1,127,000 $1,949,920 Gross fixed assets 491,000 1,202,950 Less: accumulated depreciation 146,200 263,160 Net fixed assets $344,800 $939,790 Total assets $1,471,800 $2,889,710 Liabilities and equity 2018 2019 Accounts payable $148,600 $327,118 Notes payable 200,000 720,000 Accruals 136,000 284,960 Total current liabilities $484,600 $1,332,078 Long-term debt 323,432 1,000,000 Common stock (100,000 shares) 460,000 460,000 Retained earnings 203,768 97,632 Total equity $663,768 $557,632 Total liabilities and equity $1,471,800 $2,889,710 2018 2019 Sales $7,222,384 $7,460,011 Cost of goods sold 3,123,321 3,800,000 Other expenses 340,000 720,000 Depreciation 18,900 116,960 Total operating costs $3,482,221 $4,636,960 EBIT $3,740,163 $2,823,051 Interest expense 62,500 176,000 Pretax earnings $3,677,663 $2,647,051 Taxes (40%) 1,471,065 1,058,820 Net income $2,206,598 $1,588,231 4. Construct a common size balance sheets for 2018 and 2019. Comment on any changes in the percentages of assets and liabilities.