Comparative Balance Sheets Change Increase/Decrease $30,270 Increase 39,780 Increase 44,360 Increase 2,020 Increase 15,450 Decrease Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment (27,240) 9,930) 17,310 Increase 2017 $66,520 61,920 44,360 6,010 54,970 198,520 2016 $36,250 22,140 3,990 70,420 198,520 7,050 Increase 115,040 Increase (21,150) (14,100) 183,640 68,600 $567,550 $375,890 Totals Liabilities and Stockholders' Equit Accounts payable Accrued expenses payable Bonds payable Common stock ($1 par) Retained earnings $43,050 $39,600 10,100 151,020 60,590 114,580 $567,550 $375,890 $3,450 Increase 10,100 Decrease 49,650 Decrease 169,690 Increase 78,270 Increase 101,370 230,280 192,850 Totals For the Year Ended December 31, 2017 $950,240 Sales revenue Cost of goods sold Operating expenses Interest expense Loss on disposal of equipment Income before income taxes Income tax expense Net income $476,350 231,870 12,080 1,990 722,290 227,950 64,840 $163,110 Additional information: 1. Operating expenses include depreciation expense of $39,760 2. Land was sold at its book value for cash 3. Cash dividends of $84,840 were declared and paid in 2017 4. Equipment with a cost of $166,140 was purchased for cash. Equipment with a cost of $51,100 and a book value of $35,700 was sold for $33,710 cash. 5. Bonds of $49,650 were redeemed at their face value for cash 6. Common stock ($1 par) of $169,690 was issued for cash. Staternent of Cash A Method Adjustments to reconcile net income to