Bonita Inc., a greeting card company, had the following statements prepared as of December 31, 2017.

BONITA INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016
		12/31/17			12/31/16
Cash		$5,900			$7,000
Accounts receivable		62,000			51,500
Short-term debt investments (available-for-sale)		34,700			17,900
Inventory		39,700			60,400
Prepaid rent		4,900			4,100
Equipment		154,300			130,500
Accumulated depreciationequipment		(35,300	)		(25,200	)
Copyrights		45,600			49,700
Total assets		$311,800			$295,900
Accounts payable		$46,200			$40,400
Income taxes payable		4,000			6,000
Salaries and wages payable		8,100			3,900
Short-term loans payable		8,000			9,900
Long-term loans payable		60,200			69,300
Common stock, $10 par		100,000			100,000
Contributed capital, common stock		30,000			30,000
Retained earnings		55,300			36,400
Total liabilities & stockholders equity		$311,800			$295,900

BONITA INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2017
Sales revenue				$335,600
Cost of goods sold				174,600
Gross profit				161,000
Operating expenses				120,700
Operating income				40,300
Interest expense		$11,400
Gain on sale of equipment		2,100		9,300
Income before tax				31,000
Income tax expense				6,200
Net income				$24,800

Additional information:

1.		Dividends in the amount of $5,900 were declared and paid during 2017.
2.		Depreciation expense and amortization expense are included in operating expenses.
3.		No unrealized gains or losses have occurred on the investments during the year.
4.		Equipment that had a cost of $19,800 and was 70% depreciated was sold during 2017.