Exercise 5-17 Oriole Corporation's balance sheet at the end of 2016 included the following items Current assets (Cash $82,000) $236,480 Land Buildings Equipment Accum. depr.-buildings Accum. depr.-equipment Patents Current liabilities $151,480 101,480 181,100 91,100 Retained earnings 45,100 $479,160 31,100 Bonds payable 121,480 Common stock (31,480) Total (11,000 ) 41,480 Total $479,160 The following information is available for 2017 1. Net income was $55,350 2. Equipment (cost $21,480 and accumulated depreciation $9,480) was sold for $11,480 3. Depreciation expense was $5,480 on the building and $10,480 on equipment. 4. Patent amortization was $2,500 5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,480 6. An addition to the building was completed at a cost of $28,480 7. A long-term investment (Equity) in stock was purchased for $16,000 8. Bonds payable of $51,100 were issued 9. Cash dividends of $30,000 were declared and paid 10. Treasury stock was purchased at a cost of $11,000