Balance Sheet Calculations The balance sheet information of the Cornerstone Development Company at the end of 2016 and 2017 is as follows: Contributed Capital: 2016 2017 Long-term liabilities $(a) $33,100 Accumulated other comprehensive income 8,000 8,900 17,900 19,800 Working capital Intangible assets Common stock, $10 par 19,100 18,600 (b) Total shareholders' equity (c) 179,000 Accumulated depreciation (37,500) (48,600) > Total liabilities 0) 51,900 be Current assets (d) 39,800 83,300 3 Retained earnings Total contributed capital 66,700 (0) Total assets (e) Additional pald-in capital (f) (m) (n) (0) 40,100 Long-term investments (0) (D) Current liabilities Current liabilities (p) (a) (h) Property, plant, and equipment 180,000 Additional information: At the end of 2016, a. the amount of long term liabilities is twice the amount of current Kabilities and b. there are 2,900 shares of common stock outstanding. During 2017, the company a. Issued 100 shares of common stock for $25 per share, b. earned net income of $20,600, and c. paid dividends of 1 per share on the common stock outstanding at year-end.. Required: Determine the amounts for the letters (a) through C). Prepare the correct balance sheet. Al of the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order) CORNERSTONE DEVELOPMENT COMPANY Balance Sheet December 31 2016 2017 PS December 31 2016 2017 Total assets > Total liabilities Total contributed capital Total Shareholders' Equity Total liabilities & Shareholders' Equity