Sandhill Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2015 and 2016 follow Sandhill Medical Comparative Balance Sheet As of December 31 2016 2015 Assets Current assets Cash Accounts receivable, net Inventory Other current assets $417,400 776,500 681,100 247,000 2,122,000 8,439,210 $11,924,970 $10,561,210 $309,000 1,065,600 731,000 306,000 2,411,600 9,513,370 Total current assets Property, plant, & equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities Long-term debt $3,154,000 3,702,700 6,856,700 58,600 178,000 4,831,670 5,068,270 $11,924,970 $2,846,000 3,892,650 6,738,650 58,600 103,800 3,660,160 3,822,560 $10,561,210 Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Sandhill Medical Comparative Income Statement and Statement of Retained Earnings For the Year