Problem 12-7A Presented below are the financial statements of Marigold Company. Marigold Company Comparative Balance Sheets December 31 2017 2016 Assets Cash 112,000 64,000 Accounts receivable 64,000 44,800 64,000 Inventory 89,600 192,000 Property, plant, and equipment 249,600 Accumulated depreciation (102,400 (76,800) Total $355,200 $345,600 Liabilities and Stockholders' Equity 60,800 48,000 Accounts payable 25,600 22,400 Income taxes payable 54,400 Bonds payable 105,600 57,600 44,800 Common stock 160,000 121,600 Retained earnings Total $355,200 $345,600