Shown below are comparative balance sheets for Carla Vista Company Carla Vista Company Comparative Balance Sheets December 31 2016 2017 Assets 53,438 165,172 Cash 213,752 184,604 Accounts receivable 405,643 459,081 Inventory Land 194,320 242,900 631,540 485,800 Equipment (77,728) Accumulated depreciation (160,314) equipment $1,450,113 $1,348,095 Total Liabilities and Stockholders' Eguit 94,731 104,447 Accounts payable 364,350 485,800 Bonds payable 422,646 524,664 Common stock ($1 par) 466,368 335,202 Retained earnings $1,450,113 $1,348,095 Total Additional information: 1. Net income for 2017 was $225,897. 2. Depreciation expense was $82,586. 3. Cash dividends of $94,731 were declared and paid. 4. Bonds payable amounting to $121,450 were redeemed for cash $121,450. 5. Common stock was issued for $102,018 cash. 6. No equipment was sold during 2017. 7. Land was sold for its book value