Cullumber Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2015 and 2016 follow Cullumber Medical Comparative Balance Sheet As of December 31 2016 2015 Assets Current assets Cash Accounts receivable, net Inventory Other current assets $417,500 776,450 681,100 247,050 2,122,100 8,439,880 $11,257,550 $10,561,980 $390,000 1,038,000 746,000 381,350 2,555,350 8,702,200 Total current assets Property, plant, & equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities Long-term debt $3,196,000 3,702,700 6,898,700 58,900 104,700 4,195,250 4,358,850 $11,257,550 $2,846,100 3,892,600 6,738,700 58,950 103,800 3,660,530 3,823,280 $10,561,980 Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity