In 2015, Russell Corporation has the net income of $250,000, the depreciation expense of $230,000, the preferred stock dividends paid of $10,000, and the common stock dividends paid of $140,000 Comparative Balance Sheets Year-End 2014 Year-End 2015 Asset Current assets: Cash Accounts receivable Inventory Prepaid expenses $100,000 500,000 610,000 60,000 90,000 2,000,000 (1,000,000) 2,360,000 $120,000 510,000 640,000 30,000 80,000 2,600,000 (1,230,000) $2,750,000 Investments (long-term) Plant and equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Notes payable Accrued expenses $300,000 500,000 70,000 100,000 S550,000 500,000 50,000 160,000 Long-term liabilities: Bonds payable, 2030 Stockholders' equity: Preferred stock Common stock Capital paid in excess of par Retained earnings 90,000 150,000 350,000 800,000 2,360,000 90,000 150,000 350,000 900,000 $2,750,000 Total liabilities and stockholders' equity