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Required: Prepare a worksheet.

Required: Prepare a worksheet.

AUTO SUPPLY CO. COMPARATIVE BALANCE SHEETS December 31, 2010 2011 Assets Cash Marketable Securities Accounts Receivable Inventory Plant and Equipment (net of accumulated depreciation).. Totals $ 50,000 $ 45,000 40,000 25,000 320,000 330,000 240,000 235,000 600,000 640,000 $1,250,000 $1,275,000 Liabilities & Stockholders' Equity Accounts Payable... Accrued Expenses Payable. Mortgage Note Payable (long-term) Bonds Payable (due in 2020). Capital Stock (no par value). Retained Earnings Totals $ 150,000 $ 160,000 60,000 45,000 70,000 500,000 350,000 160,000 160,000 380,000 490,000 $1,250,000 $1,275,000 Additional Information 1. Net income for the year amounted to $250,000. Cash dividends of $140,000 were declared and paid. 2. Auto's only noncash expense was depreciation, which totaled $60,000. 3. Marketable securities costing $15,000 were sold for $35,000 cash, resulting in a $20,000 Non-operating gain. 4. The company purchased plant assets for $100,000, making a $30,000 cash down payment and issuing a $70,000 mortgage note payable for the balance of the purchase price