Cornerstone Co. Balance Sheet Accounts 12/31/17 Bonds Payable Cash Accounts Receivable Preferred Stock $2,100 12/31/18 $2,100 400 392 145 128 500 500 Accounts Payable 244 250 Land 3,285 3,285 Common Stock 1,200 1,200 Inventory 480 Retained Earings 320 520 400 Unearned Rent Revenue (to be earned in 2 months) 40 28 Prepaid Insurance (3-month policy) 114 173 Taxes Payable 20 20 Insurance Expense Interest Expense Cost of Goods Sold Rent Revenue Net Sales Revenue Tax Expense Cornerstone Co. Income Statement Accounts For Year Ended 12/31/18 $60 2018 Dividends to Common Shareholders 2018 Dividends to Preferred Shareholders 2018 Common Shares outstanding 2018 Preferred Shares outstanding 2018 Stock Price All Sales on credit 32 1,500 25 2,000 27 Other Information $40 $200 100sh 50sh $100