Comparative balance sheets for International Company are presented below.

Comparative balance sheets for International Company are presented below. INTERNATIONAL COMPANY Comparative Balance Sheets December 31, ssets 2017 2016 Cash $73,000 $22,000 Accounts receivable 85.000 760000 Inventory 180,000 189000 75 000 100,000 Equipment 250,000 200,000 Accumulated depreciation-equipment (66,000) (42,000 $597,000 $545,000 Tota Liabilities and stockholders' Equity $34,000 $47,000 Accounts payable Bonds payable 150,000 200,000 Common stock ($1 par) 214,000 164,000 Retained earnings 199 000 134,000 $597,000 $545.000 Tota Additional information: 1. Net income for 2017 was $135,000. 2. Cash dividends of $70,000 were declared and paid. 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 4. Common stock was issued for $50,000 cash. 5. Depreciation expense was $24,000. 6. Sales revenue for the year was $978,000. 7. Land was sold at cost, and equipment was purchased for cash