Crane Corporation's comparative balance sheets are as follows. CRANE CORPORATION Comparative Balance Sheets December 31 2022 2021 Cash: $16,500 $17,200 Accounts receivable 24,900 22,000 Investments 19.750 15,750 Equipment 59,750 69,750 Accumulated depreciation-equipment (13,750) (10,000) Total $107.150 $114,700 Accounts payable $14,350 $11,050 Bonds payable 10,000 30,000 Common stock 49,500 44,500 Retained earnings 33,300 29.150 Total $107,150 $114,700 Additional information: 1 Net income was $18.250. Dividends declared and paid were $14,100. 2. Equipment which cost $10,000 and had accumulated depreciation of $1,500 was sold for $3,300. 3. No noncash investing and financing activities occurred during 2022. 4 Bonds were retired at their carrying value.