Presented below are the financial statements of Bonita Industries.

ment Problem 12-7A Presented below are the financial statements of Bonita Industries. Bonita Industries Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total 2017 2016 $ 23,200 16,240 23,200 90,480 s40,600 23,200 32,480 69,600 (37,120) (27,840) $128,760 $125,280 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total 8,120 19,720 20,880 58,000 $128,760 s 22,040 17,400 9,280 38,280 16,240 44,080 $125,280 Bonlta Industries l 42000-2018 3ohn Wilcy & Sons los. All Rights Reserved . A Division of lohn Wilsy & Sops