Question 3: (8 marks) Assets 2015 2016 2017 Current assets Cash $50,000 $65,000 57500 Short-term investments 69,000 50,000 59500 Accounts receivable (net) 117,800 102,800 110300 Inventory 123,000 115,000 119000 Total current assets 359,800 332,800 346300 Plant assets (net) 60,000 90,000 75000 Total assets $419,800 $422,800 421300 Liabilities and Stockholders' Equity Current liabilities Accounts payable S48,300 S45,400 46850 Income taxes payable 42,800 41,400 42100 Total current liabilities 91,100 86,800 88950 Bonds payable 20,000 20,000 20000 Total liabilities 111,100 106,800 108950 Stockholders' equity Common stock (S5 par) 280,000 300,000 290000 Retained earnings 28,700 16,000 22350 Total stockholders' equity 308, 700 316,000 312350 Total liabilities and stockholders' equity $419,800 $422,800 421300 Required: Convert the dollar amount of given Balance sheet into percentage and compare both year with 2015. comment on the trend. Ire