Mary Walker, president of Rusco Company, considers $33,000 to be the minimum cash balance for operating purposes. As can be seen from the following statements, only $28,000 in cash was available at the end of 2015. Since the company reported a large net income for the year, and also issued both bonds and common stock, the sharp dcline in cash is puzzling to Ms. Walker. Comparative Balance Sheet July 31, 2015 and 2014 Assets Current assets Cash Accounts Receivable Inventory S 28,000 S 48,600 215,600 226,900 261,700 203,800 30,600 16,100 Prepaid expenses Total current assets Long-term investments Plant and equipment 521,400509,900 129,000185000 886,000 216,500 763,000 193.900 Net plant and equipment 669,500 569,100 Total assets 1,319,900 $1.264,000 Liabilities and Stockholders' Equity Current liabilities Accounts payable Accrued liabilities Income taxes payable S 186,700 244.300 17,600 45,500 9,300 52 400 Total current liabilities Bonds Payable 248,400 307,400 239 000 Total liabilities 487 400307.400 Stockholders equity 687.000 665,000 Common stock Retained earnings 145,500 291,600 832 500 956,600 $ 1,319900 $1,264,000 Total stockholders' equity Total liabilities and stockholders' equity