=+Accounts payable (merchandise creditors) . . . . . . . . $ 385,900 $ 374,200 Accrued expenses payable (operating expenses) . . . 31,700 35,400 Dividends payable . . . . . . . . . . . . . . . . . . . . . . . . . 4,400 3,200 Common stock, $1 par. . . . . . . . . . . . . . . . . . . . . . 20,000 16,000 Paid-in capital in excess of par—common stock . . . . 208,000 96,000 Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . 1,038,400 939,800 __________ __________