*Problem 23-4 Pearl Company had the following information available at the end of 2017. PEARL COMPANY COMPARATIVE BALANCE SHEETS AS OF DECEMBER 31, 2017 AND 2016 2017 2016 Cash $10,040 $4,030 20,560 12,910 Accounts receivable 22,220 29,960 Short-term investments 42,400 Inventory 35,320 2,990 Prepaid rent 12,050 Prepaid insurance 2,110 89 Supplies 990 76 Land 123,790 174,420 Buildings 349,320 349,320 (104,330) (87,530 Accumulated depreciation-buildings Equipment 522,390 396,430 Accumulated depreciation-equipment (129,860) (112,170) 44,810 49,940 Patents $907,430 $864,845 Total assets Accounts payable $22,090 $32,050 Income taxes payable 5,000 4,040 Salaries and wages payable 4,990 2,980 Short-term notes payable 10,020 10,020 Long-term notes payable 60,200 70,310 401,710 401,710 Bonds payable 16,020 18,135 Premium on bonds payable 239,400 219,310 Common stock Paid-in capital in excess of par common stock 24,910 17,400 123,090 88,890 Retained earnings $907,430 $864,845 Total liabilities and stockholders' equity