A comparative balance sheet for Grouper Corporation is presented below.

		December 31
Assets		2017			2016
Cash		$ 72,850			$ 22,000
Accounts receivable		84,910			69,060
Inventory		182,910			192,060
Land		73,910			113,060
Equipment		262,910			203,060
Accumulated Depreciation-Equipment		(71,910	)		(45,060	)
Total		$605,580			$554,180
Liabilities and Stockholders' Equity
Accounts payable		$ 36,910			$ 50,060
Bonds payable		150,000			200,000
Common stock ($1 par)		214,000			164,000
Retained earnings		204,670			140,120
Total		$605,580			$554,180

Additional information:

1.		Net income for 2017 was $130,820. No gains or losses were recorded in 2017.
2.		Cash dividends of $66,270 were declared and paid.
3.		Bonds payable amounting to $50,000 were retired through issuance of common stock.