Question 1 Skysong, Inc. reported the following information for 2019 Skysong, Inc. Comparative Balance Sheets Change 2018 Increase Decrease $36,040 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment 2019 $54,300 62,450 44,180 5,960 21,850 -0 3,960 $18,260 Increase 40,600 Increase 44,180 Increase 2,000 Increase 14,140 Decrease 5,260 69,4 201,370 201,370 -0 (14,130)7,065 Increase 182,570 68,200 114,370 Increase (10,060) 17,585 Increase (21,195) (27,645) Totals Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock ($1 par) Retained earnings $557,250 $376,630 $42,690 $39,960 $2,730 Increase 10,060 Decrease 149,350 50,360 Decrease 9,720 168,350 Increase 69,960 Increase 10,060 98,990 228,070 187,500 117,540 Totals $557,250 $376,630 Skysong, Inc. Income Statement For the Year Ended December 31, 2019 Sales revenue $940,810