Bluthe Company The following information is available for the Bluthe Company: Bluthe Company Balance Sheets At December 31 Assets: Cash Accounts receivable Merchandise inventory Long-term investments Equipment Accumulated depreciation Total assets Liabilities: Year 2 Year 1 $24,640 $23,040 32,180 29,400 73,125 61,710 55,900 56,400 175,500 145,500 -33,550 -31,200 $327,795 $284,850 Accounts payable $65,000 $40,380 Income taxes payable 10,725 10,200 Bonds payable 48,750 66,000 Total liabilities $124,475 $116,580 Equity Common stock 117,000 96,000 Paid-in capital in excess of par 13,000 9,000 Retained earnings 73,320 63,270 Total equity $203,320 $168,270 Total liabilities and equity $327,795 $284.850