Problem 23-7 Pina Company, a major retailer of bicycles and accessories, operates several stores and is a publicly traded company. The comparative balance sheet and income statement for Pina as of May 31, 2017, are as follows. The company is preparing its statement of cash flows. PINA COMPANY COMPARATIVE BALANCE SHEET AS OF MAY 31 2017 2016 Current assets Cash Accounts receivable Inventory Prepaid expenses $28,200 $19,900 57,600 221,600 250,400 7,100 334,000 335,000 75,200 9,000 Total current assets Plant assets Plant assets 601,300 503,600 Less: Accumulated depreciation-plant assets 148,800 124,400 452,500 379,200 76,500 $714,200 Net plant assets Total assets Current liabilities Accounts payable Salaries and wages payable Interest payable $123,200 $114,400 71,600 24,800 196,900 210,800 46,900 26,800 Total current liabilities