A comparative balance sheet for Lomax Company containing data for the last two years is as follows: Assets Current assets: Cash and cash equivalents Lomax Company Comparative Balance Sheet This Year Last Year $ 85,000 $ 61,200 Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments. Loans to subsidiaries Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings. Total stockholders' equity Total liabilities and stockholders' equity 618,000 624,800 645,000 434,000 12,000 21,200 1,349,000 1,152,200 2,440,000 1,856,000 631,800 572,600 1,808,200 109,400 134,000 $ 3,400,600 $ 892,400 33,400 151,200 1,283,400 172,000 77,000 $ 2,684,600 $ 584,000 54,600 129,200 767,800 1,077,000 690,000 1,767,000 442,000 1,209,800 1,118,000 515,600 1,633,600 $ 3,400,600 1,014,000 460,800 1,474,800 $ 2,684,600 The following additional information is available about the company's activities during this year: