Morgan Company's comparative balance sheets for December 31 of 2016 and 2015 are shown below. Dec 31, 2016 Dec 31, 2015 ncrease Decrease S 86,200 $38,700 $47,500 Cash 10,100 9,000 S 1,100 Accounts Receivable (net) 32,500 31,500 1.000 3,100 6,500 Prepaid Expenses 3,400 105,000 79,000 26,000 Plant Assets (25.700) (19,300) 6,400 Accumulated Depreciation $210,100 S 146,500 Total Assets Liabilities and Stockholders' Equity S 11,300 S16,100 4,800 2,300 2,000 300 Wages Payable 4,400 5,100 700 Income Tax Payable 60,000 60,000 Bonds Payable 65.000 55,000 10,000 Common Stock. SI0 par Additional Paid-in Capital 49,000 34,000 15,000 27,000 34,000 7,000 Retained Earnings (6,900 6,900 Treasury Stock S 210,100 S 46,500 Total liabilities and Stockholders' Equity The following information is taken from Morgan's financial records. During 2016, equipment was sold for $12,500. The equipment had an original cost of $27,000 and a current book value of $18,000. 1,000 shares of common stock were issued for $25 per share. Depreciation expense for 2016 was $15,400. Net income for the year was $9,000