Comparative balance sheet accounts of Headland Inc. are presented below.

HEADLAND INC. COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31, 2017 AND 2016
		December 31
Debit Accounts		2017		2016
Cash		$42,400		$34,000
Accounts Receivable		69,800		60,300
Inventory		29,700		23,800
Equity investments		22,300		38,100
Machinery		29,700		19,000
Buildings		67,500		56,400
Land		7,600		7,600
		$269,000		$239,200
Credit Accounts
Allowance for Doubtful Accounts		$2,200		$1,500
Accumulated DepreciationMachinery		5,600		2,300
Accumulated DepreciationBuildings		13,500		9,100
Accounts Payable		35,100		24,800
Accrued Payables		3,300		2,600
Long-Term Notes Payable		21,000		30,700
Common Stock, no-par		150,000		125,000
Retained Earnings		38,300		43,200
		$269,000		$239,200

Additional data (ignoring taxes):

1.		Net income for the year was $41,300.
2.		Cash dividends declared and paid during the year were $21,200.
3.		A 20% stock dividend was declared during the year. $25,000 of retained earnings was capitalized.
4.		Equity investments (level of ownership is less than 20%) that cost $24,700 were sold during the year for $28,500. No unrealized gains and losses were recorded on these investments in 2017.
5.		Machinery that cost $3,700, on which $750 of depreciation had accumulated, was sold for $2,150.

Headlands 2017 income statement follows (ignoring taxes).