Problem 24-4 Presented below is the comparative balance sheet for Skysong Company SKYSONG COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2018 AND 2017 December 31 2018 2017 Assets Cash Accounts receivable (net) Short-term investments Inventories Prepaid expenses Plant & equipment Accumulated depreciation $179,800 219,100 271,500 1,050,800 25,100 2,580,700 $277,300 154,800 149,800 975,900 25,100 1,942,300 (991,300)(744,900) $3,335,700 $2,780,300 Liabilities and Stockholders' Equit Accounts payable Accrued expenses Bonds payable Capital stock Retained earnings $75,500 199,500 189,900 1,794,900 520,500 $3,335,700 $2,780,300 $49,600 170,000 450,800 2,107,500 557,800