Snow Me How Print Item The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 2012 and 20Y1, is as follows: December 31, December 31, Assets 2012 20Y1 Cash Accounts receivable (net) Inventories $183 $14 55 49 117 99 Land 250 330 Equipment 205 175 Accumulated depreciation-equipment (68) (42) Total assets $742 $625 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $51 $37 Dividends payable 5 Common stock, $1 par 125 80 Paid-in capital in excess of par-common stock 85 70 476 438 Retained earnings Total liabilities and stockholders' equity $742 $625 The following additional information is taken from the records: a. Land was sold for $120.