4-27. (Analyzing financial statements) The last two years of financial statements for Blunt Industries are as follows: Blunt Industries Balance Sheets, December 31, 2015 and 2016 2015 2016 Cash Accounts receivable Inventory S 11,250 S 650 20,800 15,625 36,25059,150 S 80,600 33,800 30,000 Less: Accumulated depreciation (35,000 $(49.400) 114,400 Total current assets $ 63,125 Land 25,000 87,500 Buildings and equipment Total fixed assets Total assets 77,500 $160,825 $195.0 s 13,125 Accounts payable Short-term bank notes 21,250 34,375 $ 28,600 61,100 $ 89,700 Total current liabilities Long-term debt 555.93829,835 $70,313 39,375 30,938 $119,535 40,950 34,515 75,465 $195,000 Total liabilities Common stock Retained earnings Total common stockholders' equity Total debt and stockholders' equity $70,313 $140,625