O 21%, 2:26 PM Question 4 (of 0,00 points The comparative balance sheets for 2016 and 2015 and the income statement for 2016 are given below for Arduous Company. Additional information from Arduous's accounting records is provided also ARDUOUS COMPANY Comparative Bal e Sheets December 31, 2016 and 2015 2016 Assets 54 Accounts receivabl 209 232 25 226 nventory Long-term investmen Land 234 Buildings and equipment 43 438 ulated depreciation 53 1,45 1,255 Liabilities nts payable Salaries payable 25 37 Bond interest payable payable Deferred income tax liability Notes payable 32 234 Less: Discount on bonds Shareholders' Equity Common stock 465 429 Paid-in capital exces Preferred stoc Ret 274 227 Less: Treasury stock 1,45 1.255 ARDUOUS COMPANY For Year Ended December 31, 2016 (s in millions) Revenues and gain: Sales $589 30 ment revenue ale of Expenses and lot Cost of goods sold 99 92 Pate amortization expense 26 urance expense Bond interest expense ne damage 34 55 468 x expense $153 Additional informarion from the accounting reoords Investment revenue includes Arduous Company's $25 a million share of the net income of Demur Company, an equity method investee. b Treasury bills were sold during 2016 at a gain of $2 million. Arduous Company classifies its investments in Treasury bills as cash equivalents. A machine originally costing $108 million that was one half depreciated was rendered unusable by a flood. Most major components of the machine were unharmed and were sold for $20 million. d Temporary differences between pretax accounting income