Constructing Financial Statements from Account Data Barth Company reports the following year-end account balances at December 31, 2016. Prepare the 2016 income statement and the balance sheet as of December 31, 2016. Accounts payable $ 16,000 Inventory $ 36,000 Accounts receivable 30,000 Land 80,000 Bonds payable, long-term 200,000 Goodwill 8,000 Buildings 151,000 Retained earnings 160,000 Cash 148,000 Sales revenue 500,000 Common stock 150,000 Supplies inventory 3,000 Cost of goods sold 180,000 Supplies expense 6,000 Equipment 70,000 Wages expense 40,000 Barth Company Income Statement For Year Ended December 31, 2016 $ Expenses Total expenses Net $ Barth Company Balance Sheet December 31, 2016 Assets Cash $ Liabilities and equity $ Total current assets + Total liabilities Total equity Total liabilities and equity Total assets $