Group Project Problem 1100 The comparative financial statements of the Summer Company are as folows The market price of the Summer Company common w December 31, 2016 and $11.20 on December 31, 2017. Comparative Balance Sheet December 31, 2017, 2016 and 2015 ASSETS Current Assets Cas 2016 2015 Accounts Receivab 230 62.500 $253,100 $26.500 31050 Prepaid Expenses 42.500 130.000 2.200 Total Current Assets 5478,250 726,100 786100 Less Accumulated Depreciation Total Assets Liabilities and Stockholder's Equity Current Liab Accounts Payable Accrued Lates 1,000 $30,000 8,000 500.000 12.000 2000 Total Current Liab Long-Term Liabi Mortgage Note Payable Bonds P 240,000 340,000 Less: Decount on Bonds Payable $49.000 290.000 4500 Total Long-Te $300,500 $411,500 $400,00 Stockholders' Equity Common Stock $10 Par $411,000 Paid in Capital in Excess of Par 162,350 $311,000 72.350 $311,000 72.350 236.000 209.500 149.400 (10,000) (0.000 Le Treasury Stock Total Land Stockholders' Equity $1,104,350