C Online RUSSELL CORPORATION COMPARATIVE BALANCE SHEETS DECEMBER 31, 2016 and 2015 2016 2015 ASSETS Cash Accounts Receivable Merchandise Inventory Prepaid Expenses 61,725 38,550 120,300 7,550 131,125 (55.375) 30,775 40,375 125,350 8,500 100,000 (47.500) $257.500 Accumulated Depreciation Total Assets Liabilities &Equity Accounts Payable Short-term Notes Payable Long-term Notes Payable Common Stock, $5 par PIC excess par Retained Earnings Total Liabilities &Equity $ 8,875 7,500 50,000 107,500 15,000 115.000 $51,000 5,000 38,750 100,000 303.875$257.500 RUSSELL CORPORATION INCOME STATEMENT YEAR ENDED 12/31/16 Sales Cost of Goods Sold Gross Profit Operating Expenses: $592,500 297.500 $295,000 Expenses $ 19,300