Problem 23-7 publicly traded company. The comparative balance sheet and income statement for Bramble as of Bramble Company, a major retailer of bicycles and accessories, operates several stores and is a May 31, 2017, are as follows. The company is preparing its statement of cash flows. COMPARATIVE BALANCE SHEET AS OF MAY 31 2016 Current assets $28,600 Accounts receivable 74,800 57,600 221,600 249,400 Prepaid expenses Total current assets 333900 33900 Plant assets 502,500 Plant assets Less: Accumulated depreciation plant assets 149700 _125.900 Net plant assets 451,500 376,600 Total assets $785400 $710,500 Current liabilities Accounts payable $123,700 $115,600 Salaries and wages payable 46,800 71,500 27.000 25.000 Interest payable Total current liabilities 197,500 212,100 Long-term debt 70,000 100,000 Bonds payable Total liabilities 267,500 312,100 Stockholders' equity Common stock, $10 par 370,000 Retained earnings 147,900 118,400 Total stockholders' equity 517900 398400 Total liabilities and stockholders' equity $785,400 710,500 INCOME STATEMENT FOR THE YEAR ENDED MAY 31, 2017