Exercise 5-15 Presented below is a condensed version of the comparative balance sheets for Zubin Mehta Corporation for the last two years at December 31. 2017 2016 177,000 $78,000 180,000 185,000 74,000 240,000 Cash Accounts receivable Investments Equipment Accumulated Depreciation-Equipment Current liabilities Common stock Retained earnings 52,000 298,000 (106,000) (89,000) 134,000 160,000 307,000 151,000 160,000 177,000 Additional information: Investments were sold at a loss of $10,000; no equipment was sold; cash dividends paid were $30,000; and net income was $160,000