Question Assets Cash Accounts receivable (net) Inventories Plant and equipment net of depreciation Patents Other intangible assets Total Assets Ramirez Corp Balance Sheet December 31, 2015 Equities $ 200,000 Accounts payable $ 420,000 1,300,000 Income taxes payable 126,000 1,626,000 Miscellaneous accrued payables 150,000 Bonds payable (10%, due 2017) 1,250,000 1,322.000 Preferred stock ($100 par, 6% 174.000 cumulative nonparticipating) 500,000 50 000 Common stock (no par, 30.000 $4.672.000 shares authorized, issued and outstanding) 750,000 Retained earnings 1,626,000 Treasury stock-1,000 shares of preferred (150.000) Total Equities $44672002 Ramirez Corp Income Statement Year Ended December 31, 2015 Net sales $6,000,000 Cost of goods sold 4.000.000 Gross profit 2,000,000 Operating expenses (including bond interest expense) 1.000.000 Income before income taxes 1,000,000 Income tax 300.000 Net income 700.000 Additional information There are no preferred dividends in arrears, the balances in the Accounts Receivable and Inventory accounts are unchanged from January 1, 2015, and there were no changes in the Bonds Payable, Preferred Stock, or Common Stock accounts during 2015. Assume that preferred dividends for the current year have not been declared At December 31, 2015, the book value por share of common stock was $7421 $7755 $79.20 $78.20