Condensed financial data of Novak Corp. follow Novak Corp. Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 2017 2016 $ 110,696 120,286 154,125 38,908 189,060 390,450 $66,308 52,060 140,905 35,620 149,330 332,225 (68,500) (71,240) $935,02!5 $705,208 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $ 139,740 22,605 150,700 301,400 320,580 $935,025 $92,201 28,770 200,020 239,750 144,467 $705,208 Novak Corp. Income Statement Data For the Year Ended December 31, 2017 Sales revenue $532,190 Less Cost of goods sold $185,580