The comparative balance sheets for the Metlock Beauty Supply Corporation is presented below: METLOCK BEAUTY SUPPLY CORPORATION Comparative Balance Sheets Assets 2025 2024 Cash Accounts receivable (net) Prepaid insurance $45,300 $34,400 87,000 67,500 22,100 19,800 Land 16,000 40,500 Equipment Accumulated depreciation-equipment Total assets 72,300 60,000 (17,200) (14,900) $225,500 $207,300 Liabilities and Stockholders' Equity Accounts payable $12,000 $7,000 Bonds payable 27,500 16,600 Common stock 151,000 120,000 Retained earnings 35,000 63,700 Total liabilities and stockholder's equity $225,500 $207,300 Additional information: 1. Net loss for 2025 is $12,000. Net sales for 2025 are $250,000. 2. Cash dividends of $16,700 were declared and paid in 2025. 3. Land was sold for cash at a loss of $3,100. This was the only land transaction during the year. 4. Equipment with a cost of $18,700 and accumulated depreciation of $11,400 was sold for $7,300 cash. 5. $13,600 of bonds were retired during the year at carrying (book) value. 6. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $31,000.