Acomparative balance sheet for Carson Company appears below: CARSON COMPANY Comparative Balance Sheet Dec. 31,2017 Dec. 31, 2016 Assets Cash Accounts receivable Inventories Equipment Accumulated depreciation-equipment $18,000 25,000 45,000 70,000 (27,000) $131,000 Liabilities and Stockholders' Equity $33,000 14,000 25,000 78,000 (24,000) $126,000 Total assets Accounts payable Income taxes payable Bonds payable Common stock Retained earnings 31,000 24,000 20,000 25,000 31000 $131,000 s 43,000 20,000 10,000 25,000 28,000 Total liabilities and stockholders' equity Additional information: 1. Net income for the year ending December 31, 2017 was $28,000. 3. Cash dividends of $25,000 were declared and paid during 2017. Total depreciation expense for the year was $6,000. During the year, equipment was sold for $12,000 cash. The equipment cost of $15,000 origi accumulated depreciation of $3,000 at the time of sale. Additional equipment was purchased for $7,000 cash 4. 5. 6