=+________ ________

$712,800 $530,400 _________ _________ Liabilities and Stockholders’ Equity Accounts payable (merchandise creditors) . . . . . . . . $121,000 $114,200 Accrued expenses payable (operating expenses) . . . 18,000 15,800 Dividends payable . . . . . . . . . . . . . . . . . . . . . . . . . 15,000 12,000 Common stock, $1 par. . . . . . . . . . . . . . . . . . . . . . 67,200 60,000 Paid-in capital in excess of par—common stock . . . . 264,000 120,000 Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . 227,600 208,400 ________ _________ ________ ________