Exercise 23-21 Below is the comparative balance sheet for Sarasota Corporation. Dec. 31, 2016 Dec. 31, 2017 Cash Short-term investments Accounts receivable Allowance for doubtful accounts Prepaid expenses Inventory Land Buildings Accumulated depreciation buildings Equipment Accumulated depreciation equipment Delivery equipment Accumulated depreciation delivery equipment Patents $16,400 $20,900 24,700 42,600 18,800 44,800 (1,800)(1,900) 4,300 82,000 50,500 125,400 (30,000 ) 53,300 (19,200) 38,700 (22,200 ) 14,800 2,500 65,100 50,500 74,100 (22,900) 45,600 (15,700 ) 38,700 (20,500 ) 0 $379,500 $300,000 Accounts payable Short-term notes payable (trade) Accrued payables Mortgage payable Bonds payable Common stock Paid-in capital in excess of par Retained earnings $26,000 $16,200 6,000 4,500 53,400 62,700 101,400 3,900 51,900 $379,500 $300,000 4,000 3,000 73,300 50,100 140,300 10,000 72,800 Dividends in the amount of $15,000 were declared and paid in 2017