Pharoah Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2015 and 2016 follow Pharoah Medical Comparative Balance Sheet As of December 31 2016 2015 Assets Current assetS Cash Accounts receivable, net Inventory Other current assets $417,400 776,400 681,050 247,050 2,121,900 8,440,160 $11,215,855 $10,562,060 $386,000 1,057,000 750,000 381,350 2,574,350 8,641,505 Total current assets Property, plant, & equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities Long-term debt $3,155,000 3,702,700 6,857,700 58,950 104,650 4,194,555 4,358,155 $11,215,855 $2,846,100 3,892,650 6,738,750 59,000 103,900 3,660,410 3,823,310 $10,562,060 Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity