CALCULATOR FULL SCREEN PRINTER VERS MENT RESOURCES Problem 12-7A Presented below are the financial statements of Sheffield Company. em 12-2A Sheffield Company Comparative Balance Sheets Resu December 31 sets 2016 Cash 105,000 60,000 Accounts receivable 60,000 42,000 Inventory 84,000 60,000 Property, plant, and equipment 180,000 2E4,000 Accumulated depreciation (96,000) (72,000) Total $333,000 $324,000 Equit Liabilities and Stoc Accounts payable 57,000 45,000 Income taxes payable 21,000 24,000 Bonds payable 51,000 99,000 Common stock 54,000 42,000 Retained earnings 150,000 114,000 Total $333,000 $324,000 Sheffield Company Income Statement For the Year Ended December 31, 2017 Sales revenue $726,000 Pill Cost of goods sold 525,000