Exercise 5-16 (Part Level Submission) A comparative balance sheet for Sheridan Corporation is presented below December 31 Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment 2017 2016 $72,890 22,000 83,820 181,820 72,820 261,820 67,930 190,930 111,930 201,930 (70,820) (43,930 ) $602,350 $550,790 Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings $.35,820 48,930 200,000 164,000 137,860 $602,350 $550,790 150,000 214,000 202,530 Total Additional information