A comparative balance sheet for Lomax Company containing data for the last two years is as follows: Lomax Company Comparative Balance Sheet This Last Year Year Assets Current assets: Cash and cash equivalents 75,000 53,200 Accounts receivable 598,000 620,000 612,800 424,000 13,200 7,000 Inventory Prepaid expenses Total current assets 1,299,000 1,104,200 Property, plant, and equipment 2,390,000 1,816,000 Less accumulated depreciation 619,800 563,600 Net property, plant, and equipment 1,770,200 1,252,400 Long-term investments 88,400 142,000 124,000 72,000 Loans to subsidiaries Total assets 3,281,600 2,570,600 Liabilities and Stockholders' Equity Current liabilities 876,400 574,000 Accounts payable 27,400 Accrued liabilities 45,600 Income taxes payable 138,200 121,200 1,042,000 740,800 Total current liabilities 640,000 412,000 Bonds payable Total liabilities 1,682,000 1,152,800 Stockholders' equity: Common stock 1,098,000 1,004,000