Problem 23-2

The comparative balance sheets for Cullumber Corporation show the following information.

Cash Accounts receivable Inventory Available-for-sale debt investments Buildings Equipment Patents Allowance for doubtful accounts Accumulated depreciation equipment Accumulated depreciation-building Accounts payable Dividends payable Notes payable, short-term (nontrade) Long-term notes payable Common stock Retained earnings December 31 2017 2016 $33,600 $12,900 12,300 10,100 12,200 8,900 -0- 3,000 -0- 29,600 45,200 19,900 5,100 6,200 $108,400 $90,600 2,900 $4,400 2,000 4,500 6,100 5,100 3,000 -0- 4,900 2,900 4,000 31,000 25,000 43,000 33,000 21,500 5,700 $108,400 $90,600