Exercise 12-7 Shown below are comparative balance sheets for Martinez Company. Martinez Company Comparative Balance Sheets December 31 2016 $ 70,268 242,744 603,666 319,400 638,800 2017 Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $ 217,192 281,072 533,398 255,520 830,440 (210,804)(102,208) $1,906,818$1,772,670 $ 137,342 638,800 555,756 440,772 $1,906,818$1,772,670 $ 124,566 479,100 689,904 613,248