Exercise 13-9 Cullumber Company has these comparative balance sheet data: CULLUMBER COMPANY Balance Sheets December 31 2017 2016 Cash Accounts receivable (net) Inventory Plant assets (net) $ 30,495 142,310 121,980 406,600 $701,385 $ 101,650 203,300 284,620 111,815 $701,385 $60,990 121,980 101,650 365,940 $650,560 $121,980 203,300 243,960 81,320 $650,560 Accounts payable Mortgage payable (15%) Common stock, $10 par dy Retained earnings Additional information for 2017: 1. Net income was $32,700. 2. Sales on account were $382,800. Sales returns and allowances amounted to $27, 100. 3. Cost of goods sold was $224,200. 4. Net cash provided by operating activities was $58,800. 5. Capital expenditures were $28,800, and cash dividends were $14,400