Spicer Company Comparative Balance Sheets December 31 Assets 2017 2016 68,000 45,000 Cash 50,000 58,000 Accounts receivable Inventory 151,450 42,000 Prepaid expenses 15,280 21,000 Land 145,000 130,000 200,000 200,000 Buildings Accumulated depreciation-buildings (60,000) 40,000) Equipment 225,000 55,000 (45,000) (35,000) Accumulated depreciation equipment Total $749,730 $676,000 Liabilities and Stockholders' Equity 44,730 36,000 Accounts payable Bonds payable 300,000 300,000 Common stock, $1 par 200,000 160,000 205,000 180,000 Retained earnings Total $749,730 $676,000