P17-9A Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 Assets 2017 Cash 80,800 Accounts receivable 92,800 Inventory 117,500 Prepaid expenses 28,400 Investments 143,000 Equipment 270,000 Accumulated depreciation-equipment (50,000) Total $682,500 Liabilities and Stockholders' Equity Accounts payable $112,000 Accrued expenses payable 16,500 Bonds payable Common stock. 110,000 Retained earnings 220,000 224,000 Total $682,500 2016 48,400 33,000 102,850 26,000 114,000 242,500 (52,000) $514,750 67,300 17,000 150,000 175,000 105,450 $514,750