Financial statements for Benson Company follow. Balance Sheets As of December 31 Assets Current assets BENSON COMPANY Year 4 Year Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other $ 17,500 $ 13,500 20,300 6,300 44,000 36,000 129,000 137,000 28,000 13,000 238,800 205,800 27,000 20,000 270,000 255,000 29,000 24,000 $564,800 $504,800 S 17,200 8,500 88,800 75,000 24,000 18,000 130,000 101,500 130,000 130,000 Total noncurrent liabilities 27,000 157,000 152,000 22,000 Total liabilities 287,000 253,500 Stockholders' equity Preferred stock, (par value $10, 5% cumulative, non-participating; 8,000 80,000 80,000 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) 80,000 80,000 Retained earnings 117,800 91,300 Total stockholders' equity 277,800 251,300 Total liabilities and stockholders' equity $564,800 $504,800