Exercise 5-17 Splish Corporation's balance sheet at the end of 2016 included the following items. Current assets (Cash $82,000) $236,440 Current liabilities $151,440 Land Buildings Equipment Accum. depr.-buildings Accum. depr.-equipment Patents 31,130 Bonds payable 101,440 121,440 Common stock 181,130 91,130 Retained earnings 45,130 (31,440) Total (11,000) 41,440 $479,140 Total $479,140 The following information is available for 2017. 1. Net income was $57,680. 2. Equipment (cost $21,442-and accumulated depreciation $9,440) was sold for $11,440. 3. Depreciation expense was $5,440 on the building and $10,440 on equipment. 4. Patent amortization was $2,500. 5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,440. 6. An addition to the building was completed at a cost of $28,440 7. A long-term investment (Equity) in stock was purchased for $16,000. 8. Bonds payable of $51,130 were issued. 9. Cash dividends of $30,000 were declared and paid. 10. Treasury stock was purchased at a cost of $11,000