Comparative financial statements for Weaver Company follow: Assets Cash Weaver Company Comparative Balance Sheet at December 31 Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Weaver Company Income Statement For This Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income $ 755 448 307 219 88 $ 5 (3) 2 90 24 $ 66 This Year Last Year $ 17 $ 11 295 230 152 196 9 5 473 442 515 435 (81) (72) 434 363 24 31 $ 931 $ 836 $ 301 $ 224 73 80 71 64 445 368 198 170 643 538 164 202 124 96 288 298 $ 931 $ 836 During this year, Weaver sold some equipment for $18 that had cost $31 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $12 that had cost $7 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $38 of its own stock. This year Weaver did not retire any bonds.