1 Normal 1 No Spac. Heading 1 Heading 2 Font Consider the following Balance Sheet 2014 34,000.00 $34,500.00 12,000.00 $17,000.00 $16,000.00 $14,000.00 2013 Cash Accounts receivable, net Inventory Investment (long-term) Fixed assets Accumulated depreciation $6,000.00 $80,000.00 $93,000.00 $-48,000.00 $-39,000.00 100,000.00 $119,500.00 Total Assets Accounts Payable Bonds payable Common stock Retained Earnings Treasury Stock 19,000.00 $12,000.00 10,000.00 $30,000.00 $50,000.00 $61,000.00 $21,000.00 $28,000.00 $-11,500.00 100,000.0o $119,500.00 Total Liabilities and Equity Supplemental information for time period January 1, 2014 through December 31, 2014: Sales on account, $70,000. Purchases on account, $40,000. Depreciation, $5,000. Expenses paid in cash, $18,000 (including $4,000 of interest and $6,000 in taxes). Decrease in inventory value, $2,000. - - - - Sales of fixed assets for $6,000 cash; cost $21,000 and two-thirds depreciated - Purchase of fixed assets for cash, $4,000. - Sale of investments (long-term) for $9,000 cash. (loss or gain is included in income) Fixed assets are exchanged for bonds payable of $30,000. Purchase of treasury stock for cash, $11,500. United Stabes PrtScn 4