Problem 14-3A Condensed balance sheet and income statement data for Landwehr Corporation appear below. LANDWEHR CORPORATION Balance Sheets December 31 2016 2015 2014 Cash 24,600 18,000 17,600 Accounts receivable (net) 50,700 44,400 48,700 Other current assets 90,100 95,000 63,600 75,000 Investments 70,900 45,400 Plant and equipment (net) 399,600 370,500 358,000 $640,000 $598,800 $533,300 Current liabilities $74,500 $79,900 $69,500 Long-term debt 79,300 84,200 50,900 Common stock, $10 par 341,500 309,700 296,300 Retained earnings 125,000 116,600 144,700 $640,000 $598,800 $533,300 LANDWEHR CORPORATION Income Statement For the Years Ended December 31 2016 2015 $742,100 $705,000 Sales revenue Less: Sales returns and allowances 39,300 50,600 Net sales 702,800 654,400 Cost of goods sold 419,100 395,600 283,700 Gross profit 258,800 Operating expenses (including income 215,200 217,200 taxes S41,600 68,500 Net income Additional information: 1. The market price of Landwehr's common stock was $3, $6, and $8 for 2014, 2015, and 2016, respectively. 2. All dividends were paid in cash