A comparative balance sheet for Lomax Company containing data for the last two years is as follows Lomax Company Comparative Balance Sheet This Year Last Year Assets Current assets: Cash and cash equivalents $87,000 62,800 622,000 650,000 627,200 436,000 13,000 Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment 22,800 1,359,000 1,161,800 2,450,000 1,864,000 634,200 574,400 Less accumulated depreciation Net property, plant, and equipment Long-term investments Loans to subsidiaries Total assets 1,815,800 1,289,600 178,000 78,000 $ 3,424,400 $ 2,707,400 113,600 136,000 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 895,600 S 586,000 56,400 130,800 34,600 153,800 Accrued liabilities Income taxes payable 1,084,000 700,000 773,200 448,000 Total current liabilities Bonds payable Total liabilities Stockholders' equity: 1,784,000 1,221,200 1,122,000 1,016,000 Common stock Retained earnings 518,400 470,200 1,640,400 1,486,200 $ 3,424,400 $ 2,707,400 Total stockholders' equity Total liabilities and stockholders' equity