ACC104: Accounting II Statement of Cash Flows The comparative balance sheet of Kit Kat Company for December 31, 2019 and 2018, is as follows: Kit Kat Company Comparative Balance Sheet December 31, 2019 and 2018 Assets Cash Accounts receivable (net) 2019 2018 $140,350 95,900 95,300 102,300 Inventories Prepaid expenses 165,200 157,900 6,240 5,860 Investment (long-term) 35,700 84,700 Land 75,000 90,000 Buildings 375,000 260,000 Accumulated depreciation - buildings (71,300) (58,300) Machinery and equipment 428,300 428,300 Accumulated depreciation - machinery and equipment (148,500) (138,000) Patents 58,000 65,000 Total Assets $1,159,290 $1,093.660 Liabilities and Stockholders' Equity Accounts Payable (Merchandise Creditors) 43,500 46,700 Accrued expenses payable (operating expenses) 14,000 12,500 Income taxes payable 7,900 8,400 Dividends payable 14,000 10,000 Mortgage note payable, due in 10 years 40,000 0 Bonds payable 150,000 250,00 Common stock, $30 par 450,000 375,000 Excess of issue price over par- common stock 66,250 41,250 Retained earnings 373,640 349,810 Total liabilities and stockholder's equity 1.159.290 1,093,660