Dec. 31, 2016 Dec. 31, 2015 Assets Cash $14648000 179,64000 241.920.00 Accounts receivable (net) S Merchandise inventory 6 Prepaid expenses 7 Equipment 8 Accumulated depreciation-equipment 9 Total assets 10 11 Accounts payable (merchandise creditors) 1 Mortgage note payable 13 Common stock, $10 par 14 Paid-in capital: Excess of issue price over par-common stock s Retained earnings 16 Total liabilities and stockholders' equity 225,010.00 32160000 298.870.00 298,870.00 10.420.00 37900.00 169970.00)(133,130.00) 1.19053000 $1.135,620.00 13,030.00 654,38000 Liabilities and Stockholders Equity 250,960.00 $236,720.00 00 55,410.00 25,000.00 5,00000 40,000.00 424,570.00 228,490.00 1.190,530.00 $1,135,620.00 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2016 are as follow A. Net income, $348,560 B. Depreciation reported on the income statement, $82,480 C. Equipment was purchased at a cost of $162,120 and fully depreciated equipment costing $45,640 was discarded, with no salvage realized. D. 10,000 shares of common stock were issued at $18 for cash. E. The mortgage note payable was not due until 2018 but the terms permitted earlier payment without penalty. F. Cash dividends declared and paid, $152,480