Forten Company, a merchandiser, recently completed its calendar-year 2018 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Recelvable reflect cash recelpts from customers, (3) all purchases of inventory are on credit, (4) all deblts to Accounts Payable reflect cash payments for Inventory, and (5) Other Expenses are paid In advance and are Initially deblted to Prepald Expenses. The company's Income statement, balance sheets, and additional Information follow. FORTEN COMP Comparative Balance Sheets December 31, 2818 and 2017 2818 2817 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets $ 78,400 $ 92, 5ee 69,625 27e,888 2,275 435,200 127,eee 55,50e 57e,791 586,786e 94,460 384,156 1.480 478,416 138,5ee 46,125 Liabilities and Equity Accounts payable Short-term notes payable Total current 1iabilities Long-term notes payable Total liabilities Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity $ 72,141 143,175 9,880 152,975 67,758 228,725 15,78 87,841 55,588 143,341 288,750 178,758 168,7881871220 578,791 S586, 780