Exercise 5-14 The comparative balance sheets of Flint Inc. at the beginning and the end of the year 2017 are as follows. FLINT INC. BALANCE SHEETS Dec. 31, 2017 Jan. 1, 2017 Inc./Dec. Assets Cash 47,110 15,110 $32,000 Inc. 94,950 Accounts receivable 89,840 5,110 Inc. 23,840 Equipment 42,950 19,110 Inc. 9,950 Inc. Less: Accumulated Depreciation-Equipment 20,950 11,000 $164,060 $117,790 Total Liabilities and Stockholders' Equity 23,950 16,840 7,110 Inc. Accounts payable 102,110 Common stock 81,840 20,270 Inc. 19,110 18,890 Inc. Retained earnings 38,000 $164,060 Total $117,790