Aarons Corporation Balance Sheets At December 31 Year 2 Year 1 Assets: Cash $ 24,640 $ 23,040 Accounts receivable 32,180 29,400 Merchandise inventory 73,125 61,710 Long-term investments 55,900 56,400 Equipment 175,500 145,500 Accumulated depreciation of (33,550) (31,200) Total assets $ 327,795 $ 284,850 Liabilities: Accounts payable $ 65,000 $ 40,380 Income taxes payable 10,725 Bonds payable Total liabilities Equity: Common stock 48,750 10,200 66,000 $ 124,475 $ 116,580 117,000 96,000 Paid-in capital in excess of par 13,000 Retained earnings 73,320 9,000 63,270 Total equity $203,320 $ 168,270 Total liabilities and equity $ 327,795 $ 284,850