Question 1 Presented below is a condensed version of the comparative balance sheets for Bridgeport Corporation for the last two years at December 31 2016 93,600 222,000 88,800 288,000 2017 Cash Accounts receivable Investments Equipment Accumulated Depreciation-Equipment Current liabilities Common stock Retained earnings $ 212,400 216,000 62,400 357,600 (127,200) (106,800) 160,800 192,000 368,400 181,200 192,000 212,400 Additional information: Investments were sold at a loss of $12,000; no equipment was sold; cash dividends paid were $36,000; and net income was $192,000