Problem 13-4A The following financial information is for Carla Vista Company CARLA VISTA COMPANY Balance Sheets December 31 Assets 2017 2016 69,000 69,000 Cash Debt investments (short-term) 53,000 42,000 Accounts receivable 106,000 90,000 Inventory 238,000 163,000 24,000 27,000 Prepaid expenses Land 34,000 34,000 Building and equipment (net) 259,000 83,000 Total assets $883,000 $708,000 abilities and Stockholders' Equity Notes payable $171,000 $103,000 66,000 54,000 Accounts payable Accrued liabilities 40,000 40,000 Bonds payable, due 2017 250,000 169,000 Common stock, $10 par 208,000 208,000 Retained earnings 48,000 34,000 Total liabilities and stockholders' equity $883,000 $708,000 CARLA VISTA COMPANY Income Statements For the Years Ended December 31 2017 2016 Sales revenue $890,000 $795,000 Cost of goods sold 641,000 576,000 Gross profit 249,000 219,000 operating expenses 92,000 65,000 57,000 54,000 Net income