Required: Use the information below to prepare Cardassian Company's balance sheet, in good form, at the end of 2017. Following is Cardassian Company's balance sheet at the end of 2016 and its cash flow statement for 2017. Cardassian manufactures starships.

Balance Sheet as of December 31, 2016 Assets Current assets Cash 8,250 Accounts receivable-net 7,110 Inventory 14,221 Prepaid assets 1,850 Total current assets 31,431 Land 30,278 Building and equipment 222,665 Less: Accumulated depreciation (41,115) Total assets 243,259 Liabilities and Stockholders' Equity Current liabilities Accounts payable 13,500 Accrued expenses 4,888 Total current liabilities 18,388 Long-term debt 31,500 Stockholders' Equity Common stock, $10 par value 21,552 Additional paid in capital 45,002 Retained earnings 146,872 Less: Treasury stock (20,055) Total liabilities and stockholders' equity 243,259 Statement of Cash Flows for Year Ended December 31, 2017 Operating activities Net income 15,750 Plus(minus) noncash items 6,210 Depreciation expense Plus(minus) changes in current asset and liability accounts Increase in inventory (350) Decrease in prepaid assets 102 Decrease in accrued expenses (655) Increase in accounts receivable (3,178) Decrease in accounts payable (1,230) Cash provided by operating activities 16,649 Investing activities Purchase equipment (27,910) Proceeds from sale of land 6,555 Cash used by investing activities (21,355) Financing activities Issuance of long-term debt 8,900 Issuance of common stock 23,000 Cash dividends paid (12,200) Purchase of treasury stock (7,513) Cash provided by financing activities 12,187 Net cash flow 7,481 Additional information: 1. During 2017, 500 shares of common stock were sold to the public 2. Land was sold during 2017 at an amount equal to its original cost