Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 3 Asset Cash $4,000 $21,000 Accounts receivable Inventory Prepaid expenses Total current essets Property, plant, and equipment Lees accumulated depreciation 250,000 170,000 110,000 240,000 7,000 14,000 571,000 465,000 510,000 400,000 112,000 120,000 Net property, plant, and equipment 378,000 200,000 Loan to Mymans Company 40,000 Totalt $989,000 Liabilities and Stockholders' Equity Accounts payable $110,000 Accrued liabilities 20,000 Income taxes payable 45,000 Tutal current liabilities 375,000 $ 745,000 $ 250,000 30,000 42,000 322,000 Bonds payable 150,000 70,000 Total liabilities 565,000 352,000 Common stick 360,000 270,000 Retained earnings 134,000 85,000 Tatal stockholders' equity 424,000 353,000 Total liabilities and stockholders equity $ 989,000) $ 745,000 Equipment that had cost $40,000 and on which there was accumulated depreciation of $30,000 was sold during Year 2 for $18,000. The company declared and paid a cash dividend during Year 2. It did not retire any bonds or repurchase any of its own stock. Required: < Prev 3 of 3 Next >