eBook The comparative balance sheet of Whitman Co. at December 31, 2012 and 2041, is as follows: Dec. 31, 2012 Dec. 31, 2011 Assets Cash $ 579,510 $622,680 527,350 480,990 Accounts receivable (net) Inventories 799,720 735,980 Prepaid expenses 18,540 22,020 Land 199,350 301,350 921,420 567,920 (243,390) (260,780) Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment 324,530 286,860 (89,240) (100,260) Total assets $3,020,400 $2,674,150 $ 605,590 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Bonds payable Common stock, $20 par Excess of paid-in capital over par $ 573,880 169,140 0 200,000 74,000 478,000 352,000 1,642,560 Retained earnings 1,599,380 Total liabilities and stockholders' equity $3,020,400 $2,674,150 The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 2012 are as follows: The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 2012 are as follows: ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 301,350 Apr. 20 Realized $94,900 cash from sale 102,000 199,350 ACCOUNT Buildings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 567,920 Jan. 1 Balance Apr. 20Acquired for cash 353,500 921,420 ACCOUNT Accumulated Depreciation-Buildings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 243,390 260,780 Dec. 31 Depreciation for year 17,390 ACCOUNT Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 286,860 31,600 Jan. 26 Discarded, no salvage Aug. 11 Purchased for cash 255,260 324,530 69,270 ACCOUNT Accumulated Depreciation Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 100,260 31,600 68,660 Jan. 26 Equipment discarded Dec. 31 Depreciation for year 20,580 89,240 ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 May 1 Issued 10-year bonds 169,140 169,140 ACCOUNT Common Stock, $20 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 74,000 126,000 Dec. 7 Issued 6,300 shares of common stock for $40 per share 200,000 ACCOUNT Paid-In Capital In Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit