Selected financial statement information and additional data for Johnston Enterprises is presented below: Johnston Enterprises Balance Sheet and Income Statement Data December 31, 2017 December 31, 2016 Current Assets Cash Accounts Receivable Inventory $172,860 227,800 397,200 797,860 $117,500 309,100 342,200 768,800 Total Current Assets Property, Plant, and Equipment Less: Accumulated Depreciation Total Assets 1,257,500 (467,100) 1,588,260 1,129,000 (436,600) 1,461,200 Current Liabilities: Accounts Payable Notes Payable Income Taxes Payable $188,700 48,500 84,700 321,900 $101,600 67,800 75,500 244,900 Total Current Liabilities Bonds Payable 350,000 390,800 635,700 Total Liabilities 671,900 Stockholders' Equity: 510,000 406,360 916,360 1,588,260 467,500 358,000 825,500 1,461,200 Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity