10 Points tion 20 A comparative statement of financial position for Shadssk's Company appears below: Dec 31, 2016 Ghades's Compex Comparative Statement of Financial Position Dec 31, 2017 Assets Equipment 60,000 Accumulated depreciation equipment (20,000) Long-term investments Prepaid expenses 6,000 Inventory 25.000 Accounts receivable 18,000 Cash 50,000 Total assets 122.000 32.000 (14,000) 18,000 9,000 18,000 14,000 10.000 87.000 Equity and Liabilities Share capital-ordinary 40,000 23,000 Retained earnings 28.000 10.000 Bonds payable 37.000 47,000 Accounts payable 17.000 7,000 Total equity and liabilities 122.000 87.000 Additional information: 1. Net income for the year ending December 31, 2017 was 50,000 2. Cash dividends of 15,000 were declared and paid during the year 3. Long-term investments that had a cost of 18,000 were sold for 14,000. 4. Sales for 2017 were 150,000 5. bonds payable amounting to 50,000 were retired through issuance of ordinary shares. 10 Points tion 20 A comparative statement of financial position for Shadssk's Company appears below: Dec 31, 2016 Ghades's Compex Comparative Statement of Financial Position Dec 31, 2017 Assets Equipment 60,000 Accumulated depreciation equipment (20,000) Long-term investments Prepaid expenses 6,000 Inventory 25.000 Accounts receivable 18,000 Cash 50,000 Total assets 122.000 32.000 (14,000) 18,000 9,000 18,000 14,000 10.000 87.000 Equity and Liabilities Share capital-ordinary 40,000 23,000 Retained earnings 28.000 10.000 Bonds payable 37.000 47,000 Accounts payable 17.000 7,000 Total equity and liabilities 122.000 87.000 Additional information: 1. Net income for the year ending December 31, 2017 was 50,000 2. Cash dividends of 15,000 were declared and paid during the year 3. Long-term investments that had a cost of 18,000 were sold for 14,000. 4. Sales for 2017 were 150,000 5. bonds payable amounting to 50,000 were retired through issuance of ordinary shares