Chapter 21 Homework 6 The comparative balance sheets for 2018 and 2017 and the income statement for 2018 are given below for Arduous Company Additional information from Arduous's accounting records is provided also. ARDUOUS COMPANY Comparative Balance Sheets December 31, 2818 and 2817 ($ in millions) 2.9 2018 2017 Assets Cash Accounts receivable Investment revenue receivable Inventory Prepaid insurance Long-term investment Land Buildings and equipment s 140 $ 93 218 16 212 24 137 162 424 Skipped 202 19 219 17 193 220 432 Less: Accumulated depreciation Patent (11e) (144) 47 $1,376 $1,189 Liabilities Accounts payable Salaries payable Bond interest payable Income tax payable Deferred income tax liability Notes payable Lease liability Bonds payable s 62 89 30 16 28 20 19 21 24 35 29 94 227 (34) 299 (48) Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Preferred stock Retained earnings Less: Treasury stock 466 422 97 90 245 (21e 228 $1,376 $1,189 ARDUOUS COMPANY Income Statement For Year Ended December 31, 2018 ($ in millions) Revenues and gain: Sales revenue Investment revenue 528 24