Chapter 21 Written Assignment The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Denver Company. Additional information from Denver's accounting records is provided also. DENVER COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in 000s) 2021 2020 Assets Cash Accounts receivable $ 60 $ 28 44 55 Dividends receivable 7 6 Inventory 40 35 Long-term investment 28 26 Land 105 80 Buildings and equipment 201 230 Less: Accumulated depreciation (35) (70) $ 450 $ 390 Liabilities Accounts payable Salaries payable Interest payable $ 26 $ 39 2 4 5 2 Income tax payable 6 8 Notes payable 25 Bonds payable Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital excess of par Retained earnings 85 60 (3) (4) 210 200 24 20 82 61 Less: Treasury stock (at cost) (12) 0 $ 450 $390