Exercise 12-7 Your answer is partially correct. Try again Shown below are comparative balance sheets for Novak Company Novak Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total 2016 $ 37,422 129,276 321,489 170,100 340,200 2017 $ 115,668 149,688 284,067 136,080 442,260 (112,266)(54,432) $1,015,497 $944,05!5 66,339 255,150 367,416 326,592 $1,015,497 $ 73,143 340,200 295,974 234,738 $944,055