12) The following information is available for the Aarons Corporation (concludes on NEXT page? Aarons Corporation Balance Sheets At December 31 2015 2014 Assets: Cash Accounts receivable Merchandise inventory Long-term investments Equipment Accumulated depreciation $24,640 32,180 73,125 55,900 175,500 $23,040 29,400 61,710 56,400 145,500 (33.550 Total assets 327.795 Liabilities: Accounts payable Income taxes payable Bonds payable $65,000 10,725 750 $124,475 $40,380 10,200 66,000 $116,580 Total liabilities Equity: Common stock Paid-in capital in excess of par Retained earnings 117,000 13,000 73320 96,000 9,000 63,270 Total equity $327.795 Total liabilities and equity Aarons Corporation Income Statement For Year Ended December 31, 2013 $240,000 Sales Cost of goods sold Depreciation expense Other operating expenses Interest expense Other gains (losses): $80,900 29,400 48,000 (160,300 Loss on sale of equipment Income before taxes ncome taxes expense Net income (8.400 71,300 27650 $43,650