Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Assets Dec. 31, 20Y2 Dec. 31, 20Y1 Cash Accounts receivable (net) Inventories $170 $54 96 67 60 37 Land 138 153 Equipment 78 59 Accumulated depreciation-equipment (21) (11) Total Assets $521 $359 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $66 $54 Dividends payable 10 Common stock, $10 par 34 17 Paid-in capital: Excess of issue price over par-common stock 87 42 Retained earnings 324 246 Total liabilities and stockholders' equity $521 $359 The following additional information is taken from the records: