Financial information for Messersmith Company is presented below. MESSERSMITH COMPANY Balance Sheets December 31 2017 2016 Assets Cash Short-term investments Accounts receivable (net) Inventory Prepaid expenses Land Building and equipment (net) $ 123,500 76,000 152,000 256,500 43,700 247,000 332,500 $1,299,600$1,231,200 $ 133,000 98,800 186,200 237,500 55,100 247,000 342,000 Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2020 Common stock, $10 par Retained earnings $190,000 79,800 76,000 285,000 380,000 220,400 $1,299,600$1,231,200 $190,000 91,200 95,000 285,000 380,000 258,400