Question 2 of 2

Question 2 of 2 Cullumber Shoes' comparative balance sheet is presented below. Cullumber reports under ASPE. CULLUMBER SHOES Balance Sheet December 31 Cash Accounts receivable Long-term investments Equipment Accumulated depreciation equipment Total Accounts payable Notes payable Common shares Retained earnings Total 2021 $21,996 18.876 17.940 46.800 (10.920 ) $94,692 $15,288 7.800 46.800 24.804 94.692 2020 $13,806 17,394 12,480 54,600 (7,800 ) $90,480 9.658 23.400 35.100 23.322 $90,480