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Question #4 (20 points) The 2017 comparative balance sheet and income statement of Patel Winery, Inc. follows: Patel Winery, Inc. Comparative Balance Sheet December 31, 2017 and 2016 Increase 2017 2016 Current assets: Cash and cash equivalents Accounts receivable Inventory 26,400 $15,900 $10,500 26,700 79,800 25,500 91,700 1,200 (11,900) 23,600 $271400 $233,800 37600 Plant assets: Land Equipment, net 34,600 11,000 103,900 89.700 14,200 Total assets Current liabilities: Accounts payable $35,500 28,600 $30,600 30,700 $4,900 (2,100) Accrued liabilities Notes payable Common stock Long-term liabilities: 78,000 10,000 (23,000) Stockholders' Equity: 88,800 64,900 23,900 0500 6,600 33,900 Total liabilities and stockholder equity $271400 $233,800 $3600 Retained earnings