2014 Full Doc1jpeg.pd The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment $242,560 87,870 248,060 $228,500 242,980 94,140 127,230 273,680 (04,070) $915,330 214,820 (57,930) $804,580 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings $165,670 16,480 9,150 49,430 185,810 488,790 $915,330 $158,500 20,920 7,240 39,420 109,420 469,080 $804,580 Total liabilities and stockholders' equity Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. c. The investments were sold for $84,730 cash. d. The common stock was issued for cash. e. There was a $57,530 credit to Retained Earnings for net income. f. There was a $37,820 debit to Retained Earnings for cash dividends declared. 0