Boosin Company, Inc. Comparative Balance Sheets As of December 31, 2016 and 2017 Assets 2016 2017 Current Assets Cash Accounts Receivable Inventory Prepaid Insurance $ 14,500 41,520 $ 53,700 $51,500 $60,200 64,900 $5,400 $ 3,700 $133,800 161,620 Total Current Assets Property, Plant & Equipment Land Equipment Accumulated Depreciation $96,00034,500 $120,000 133,600 (49,200) (62,300) $166,800 105,800 Net Property, Plant & Equipment 6,500 $9,500 307,100 276,920 Investments Total Assets Liabilities and Shareholders' Equity Current Liabilities Accounts Payable Notes Payable Income Tax Payable Salary Payable Interest Payable Accrued Liabilities $3,300 4,400 $ 48,800 43,100 $ 15,400 14,000 12,900 $ 9,900 $ 6,800 8,300 $ 3,100$ 1,200 $90,300 80,900 Total Curent Liabilities $93,600 47,800 $183,900 128,700 Long-Term Notes Payable Total Liabilities Shareholders' Equity Common Stock Retained Earnings $61,300 $69,000 61,900 $79,220 $ 123,200 148,220 Total Liabilities & ShareholdersEquity 307,100 276,920 Total Shareholders' Equity List of activities during 2017 Net Income $62,920 . Paid long term note payable with cash $59,400 .Cash payments to employees $42,700 Loss on the sale of land $9,700 Acquired equipment by issuing a long-term note payable for $13,600 . Cash payments to suppliers $147,400 Cash paid for interest $2,900 . Depreciation expense on equipment $13,100 . Paid short-term note payable by issuing common stock to creditor for $5,700 . Paid cash dividends $45,600 Issued common stock to shareholders for $2,000 cash Received cash from customers $298,200 . Cash paid for income taxes $11,600 Sold land for cash $51,800 Interest received in cash$1,300 . Purchased long-term investment for cash $3,000 .Paid $8,880 for a one-year insurance policy on June 1st Paid $4,800 for other operating expenses