Question 1 Rodriquez Corporation's comparative balance sheets are presented below RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2016 $17,300 22,300 15,750 69,850 2017 Cash Accounts receivable Investments Equipment Accumulated depreciation-equipment $16,700 25,100 20,050 60,250 (13,750) (10,300) Total $108,350 $114,900 Accounts payable Bonds payable Common stock Retained earnings $14,650 10,800 49,800 33,100 $108,350 $11,050 30,100 44,500 29,250 $114,900 Total Additional information: 1. Net income was $18,450. Dividends declared and paid were $14,600 2. Equipment which cost $9,600 and had accumulated depreciation of $1,700 was sold for $3,600 3. No noncash investing and financing activities occurred during 2017