$29,475 Dividends Addition to retained earnings 68,775 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 20,740 Accounts payable $ 54,900 Accounts receivable 43,680 Notes payable 14,100 Inventory 92,960 Total $ 69,000 Total $ 157,380 Long-term debt $ 131,000 Fixed assets Net plant and equipment $424,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 115,000 266,380 Total $ 381,380 Total assets $ 581,380 Total liabilities and owners' equity $ 581,380 $29,475 Dividends Addition to retained earnings 68,775 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 20,740 Accounts payable $ 54,900 Accounts receivable 43,680 Notes payable 14,100 Inventory 92,960 Total $ 69,000 Total $ 157,380 Long-term debt $ 131,000 Fixed assets Net plant and equipment $424,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 115,000 266,380 Total $ 381,380 Total assets $ 581,380 Total liabilities and owners' equity $ 581,380