Problem 12-7A Presented below are the financial statements of Tamarisk Company. Tamarisk Company Comparative Balance Sheets December 31 2017 2016 Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total 66,150 37,800 26,460 37,800 147,420 (60,480 (45,360) $209,790 $204,120 37,800 52,920 113,400 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total 13,230 32,130 34,020 94,500 $209,790 s 35,910 28,350 15,120 62,370 26,460 71,820 $204,120 Tamarisk Companv