Problem 24-4 Presented below is the comparative balance sheet for Headland Company. HEADLAND COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2018 AND 2017 December 31 2018 2017 Assets $181,800 $277,500 Cash Accounts receivable (net) 156,400 219,300 267,800 149,100 Short-term investments Inventories 1,067,900 971,700 Prepaid expenses 24,900 24,900 2,571,400 1,962,400 Plant & equipment Accumulated depreciation (1,001,800) (746,800) $3,331,300 $2,795,200 Liabilities and Stockholders' Equity $49,500 Accounts payable $74,800 170,000 198,300 Accrued expenses 447,200 190,700 Bonds payable 2,117,900 1,792,000 Capital stock 546,700 539,400 Retained earnings $3,331,300 $2,795,200