Restate the following balance sheet to do a COMMON BASE YEAR analysis:2005 2006 Base Year Assets
Cash 75,000 80,000_________
Inventory 90,000 75,000_________
Land 300,000 410,000_________
Total Assets465,000 565,000_________
Liabilities Accts Payable 16,000 24,000_________
Long Term Loan 130,000 140,000_________
Total Liabilities146,000 164,000_________
Owner’s EquityCommon Stock 200,000 200,000_________
Retained Earnings119,000 201,000_________
Total O. E. 319,000 401,000_________