Question 1 Rodriquez Corporation's comparative balance sheets are presented below RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 Cash Accounts receivable Investments Equipment Accumulated depreciation-equipment 2017 $16,900 25,000 20,050 59,850 (14,250) 2016 $17,700 22,200 15,850 70,050 (10,000) Total $107,550 $115,800 Accounts payable Bonds payable Common stock Retained earnings $14,750 10,200 50,500 32,100 $107,550 $11,050 30,200 45,100 29,450 $115,800 Total Additional information: 1. Net income was $18,250. Dividends declared and paid were $15,600 2. Equipment which cost $10,200 and had accumulated depreciation of $1,700 was sold for $3,700 3. No noncash investing and financing activities occurred during 2017