Exercise 17-9

Rodriquez Corporations comparative balance sheets are presented below.

RODRIQUEZ CORPORATION Comparative Balance Sheets December 31
		2017			2016
Cash		$16,700			$17,600
Accounts receivable		24,900			22,000
Investments		19,850			16,250
Equipment		59,950			69,950
Accumulated depreciationequipment		(14,050	)		(10,300	)
Total		$107,350			$115,500
Accounts payable		$14,650			$11,050
Bonds payable		10,500			30,000
Common stock		49,900			44,900
Retained earnings		32,300			29,550
Total		$107,350			$115,500

Additional information:

1.		Net income was $18,650. Dividends declared and paid were $15,900.
2.		Equipment which cost $10,000 and had accumulated depreciation of $1,700 was sold for $3,400.
3.		No noncash investing and financing activities occurred during 2017.