Problem 13-9A Your answer is partially correct. Try again. Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Investments Equipment Accumulated depreciation-equipment 2017 2016 $48,400 33,000 102,850 26,000 114,000 242,500 50,000 (52,000 $682,500 $514,750 $80,800 92,800 117,500 28,400 143,000 270,000 Total Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable $67,300 17,000 150,000 175,000 224,000105,450 $682,500 $514,750 $112,000 16,500 110,000 220,000 Common stock Retained earnings Total CHENG INC. Income Statement For the Year Ended December 31, 2017 $392,780 Sales revenue Less