Assets Comparative Balance Sheet December 31, 2008 and 20Y7 20Y8 20Y7 Cash 608,940 X $585,920 Accounts receivable (net) 230,970 205,590 X Inventories 651,770 618,320 Investments 0 230,000 Land 326,000 0 Equipment 705,200 Accumulated depreciation-equipment (166,400) Total assets Liabilities Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Total liabilities Stockholders' Equity Common stock, $4 par Paid-in capital in excess of par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $391,830 41,160 19,200 $498,060 $1,858,300 $100,000 280,000