Calculator Show Me How eBook The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, Dec. 31, 20Y1 20Y2 Assets $183 $14 Cash 49 55 Accounts receivable (net) 99 117 Inventories 330 Land 250 175 Equipment 205 Accumulated depreciation-equipment (42) (68) $742 $625 Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $51 $37 Dividends payable Common stock, $1 par 125 80 Paid-in capital: Excess of issue price over par- 85 70 common stock Retained earnings 476 438 Total liabilities and stockholders' equity $742 $625 The following additional information is taken from the records: a. Land was sold for $120. b. Equipment was acquired for cash, c. There were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a $62 credit to Retained Earnings for net income. f. There was a $24 debit to Retained Earnings for cash dividends declared. Check My Work 1 more Check My Work uses remaining