Comparative balance sheets for 2016 and 2015 and a statement of income for 2010 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2016 and 2015 (S in 000s 2016 2015 Assets 420 170 Cash unts receivable 430 230 inventory 580 370 Land 550 545 Building 900 900 Less: Accumulated depreciation (250 (210 quipment 2,700 2.390 Less: Accumulated depreciation (409 (380 Patent 1.400 1.500 $6,321 5,515 Liabilities Accounts payable 680 480 Accrued expenses payable 190 115 Lease liability-and 150 Shareholders' Equity 3.160 3,000 Common stock Paid-in capita-excess of par 500 490 1.641 1,430 Retained earnings $6,321 $5,515 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2016 (S in 000s) Revenues 52,608 Sales revenue 50 $2,658 Gain on sale of land xpenses Cost of goods sold 880 Depreciation expense-building 40 Depreciation expense-equipment 272 Loss on sale of equipment 10 Amortization of patent 100 Operating expenses 550 1,852 Net income 806 Additional infomation from the accounting records: a. During 2016, equipment with a cost of S270,000 (90% depreciated) was sold. b. The statement of shareholders' equity reveals reductions of $170,000 and $425,000 for stock dividends and cash dividends, respectively