A comparative balance sheet for Lomax Company containing data for the last two years is as follows: Assets Current assets: Lomax Company Comparative Balance Sheet This Year Last Year Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Loans to subsidiaries $ 98,000 $ 71,600 644,000 677,500 640,400 447,000 31,600 1,414,000 2,505,000 647,400 1,908,000 18,500 1,214,600 584,300 1,857,600 1,323,700 136,700 211,000 147,000 83,500 $3,555,300 $2,832,800 Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 913,200 $ 597,000 41,200 168,100 66,300 139,600 1,122,500 802,900 755,000 481,000 1,877,500 1,283,900 1,144,000 1,027,000 533,800 521,900 1,677,800 1,548,900 $3,555,300 $2,832,800 The following additional information is available about the company's activities during this year: