Problem 17-7A The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 2016 Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment 2017 $35,500 32,350 26,400 59,750 $19,500 18,200 20,500 77,100 (29,100) (23,700) Total $124,900 $111,600 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,250 16,450 8,400 32,200 13,050 41,500 $124,900 $111,600 7,000 26,400 17,750 45,500 Total