Shown below is the liabilities and stockholders equity section of the balance sheet for Jana Kingston Company and Mary Ann Benson Company. Each has assets totaling $4,539,500.

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Jana Kingston Co Mary Ann Benson Co Current liabilities $322,000 Current liabilities $840,000 Common stock ($20 pan) Long-term debt, 11% 1,305,000 2,982,000 Retained earnings (Cash dividends, Common stock ($20 par) 2,195,000 $328,700) 717,500 Retained earnings (Cash dividends, 717,500 $226,800) $4,539,500 $4,539,500 For the year, each company has earned the same income before interest and taxes. Jana Kingston Mary Ann Benson Income before interest and $1,207,000 $1,207,000 taxes Interest expense 143,550 1,207,000 1,063,450 Income taxes (45%) 478,553 543,150 $584,897 $663,850 Net income At year end, the market price of Kingston's stock was $101 per share, and Benson's was $63.50. Assume balance sheet amounts are representative for the entire year