Condensed financial data of Bridgeport Corp. follow Bridgeport Corp. Balance Sheets Assets Cash Accounts receivable 2017 2016 $ 151,096 $90,508 71,060 210,375 192,330 48,620 258,060 203,830 532,950 453,475 164,186 Prepaid expenses Long-term investments Plant assets 53,108 (93,500) (97,240) 93,50(97,240) Total $1,276,275 $962,583 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total s 190,740 125,851 30,855 39,270 205,700 273,020 411,400 327,250 437,580 197,192 $1,276,275 $962,583 Bridgeport Corp. Income Statement Data For the Year Ended December 31, 2017 Sales revenue $726,420 Less: Cost of goods sold $253,310 Operating expenses, excluding depreciation 23,207 86,955 51,014 8,845 Income tax expense Interest expense Loss on disposal of plant assets 14,025 437,356 Net income $ 289,064 Additional information: 1. New plant assets costing $187,000 were purchased for cash during the year 2. Old plant assetshaving an original cost of $107,525 and accumulated depreciation of $90,695 were sold for $2,805 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $48,676 was declared and paid during the year