Problem 12-7B Prepare a Statement of Cash Flows [LO12-1, L012-2] A comparative balance sheet and income statement for Groton Company follow Groton Company Comparative Balance Sheet December 31, 2011 and 2010 2011 2010.1 Assets Cash Accounts receivable Inventory Prepaid expenses $ 3 $ 14 314 233 162 202 12 10 Total current assets 491 459 Property, plant, and equipment Less accumulated depreciation 513 434 (87) (73) Net property, plant, and equipment 426 361 Long-term investments 27 36 Total assets $ 944 $ 856 Liabilities and Stockholders' equity Accounts payable Accrued liabilities s 303 $ 227 72 82 76 67 Income taxes payable Total current liabilities Bonds payable 451 376 202 176 Total liabilities 653 552 167 206 124 98 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 291 304 $ 944 $ 856