The Corporation data for the current year: The Nichols Current year Prior year Account $79,600 $60,000 Cash $59,400 $44,000 $51,200 $40,000 AIR Mdse. Inventory $71,500 $55,000 Current liabilities $40,000 $30,000 Long-term liabilities $47,460 $42,000 Common stock (5,000 shares) Retained earnings $31,240 $17,000 $607,700 $515,000 Net sales revenue