of 23 question Note: Use the Cornerstone Co. data and the Reference Sheet to assist you in answering the following question Cornerstone Co. Balance Sheet Accounts 12/31/17 Bonds Payable Cash Accounts Receivable Preferred Stock 12/31/18 $2,100 $2,100 400 392 145 128 500 500 Accounts Payable 244 250 Land 3,285 3,285 Common Stock 1,200 1,200 Inventory 480 520 Retained Earnings 320 400 Uneamed Rent Revenue (to be earned in 2 months) 40 28 Prepaid Insurance (3-month policy) 114 173 Taxes Payable 20 20 Insurance Expense Interest Expense Cost of Goods Sold Rent Revenue Net Sales Revenue Tax Expense Cornerstone Co. Income Statement Accounts For Year Ended 12/31/18 $60 32 1,500 25 2,000 27 Time 1:54 Cornerstone Co. Balance Sheet Accounts 12/31/17 25 tion Bonds Payable Cash Accounts Receivable Preferred Stock Accounts Payable Land $2,100 12/31/18 $2,100 Time le 400 392 1451 128 500 500 2441 250 3,285 3,285 Common Stock 1,200 1,200 Inventory 4801 520 Retained Eamings 320 400 Uneamed Rent Revenue (to be earned in 2 months) 40 28 Prepaid Insurance (3-month policy) 114 173 Taxes Payable 20 20 Insurance Expense Interest Expense Cost of Goods Sold Rent Revenue Net Sales Revenue Tax Expense Cornerstone Co. Income Statement Accounts For Year Ended 12/31/18 2018 Dividends to Common Shareholders 2018 Dividends to Preferred Rhareholders $60 32 1,500 25 2,000 27 Other Information $40 $200 THE