Exercise 12-9 Here are comparative balance sheets for Splish Brothers Inc.. 2018 Splish Brothers Inc. Comparative Balance Sheets December 31 Assets 2019 Cash $ 72,600 Accounts receivable 86,300 Inventory 170,500 Land 73,800 Equipment 260,000 Accumulated depreciation equipment (65,900) Total $597,300 Liabilities and Stockholders' Equity Accounts payable $ 35,400 Bonds payable 151,100 Common stock ($1 par) 214,900 Retained earnings 195,900 Total $597,300 $ 33,000 71,400 186,600 100,800 200,800 (34,100) $558,500 $ 47,000 204,000 174,700 132,800 $558,500 Additional information: 1. Net income for 2019 was $104,800. 2. Cash dividends of $41,700 were declared and paid. 3. Bonds payable amounting to $52,900 were redeemed for cash $52,900. 4. Common stock was issued for $40,200 cash. 5. No equipment was sold during 2019, but land was sold at cost. Splish Brothers Inc. Statement of Cash Flows Adjustments to reconcile net income to