Stephanie Ram Corporation's Income Statement for the year ended March 31.2016, and its Comparative Batance Shertsass of March 31,2016 and 2015 are an follows \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{\begin{tabular}{l} Stephanile Ram Corporation \\ Comparative Balance Sheets \\ March 31, 2016 and 2015 \end{tabular}} \\ \hline & 2016 & 2015 \\ \hline Assets & & \\ \hline Cash & $189.000 & $40,000 \\ \hline Accounts receivable (net) & 177,000 & 212.000 \\ \hline Merchandisc inventory & 336.000 & 446,000 \\ \hline Prepaid rent & 4,000 & 3,000 \\ \hline Equipment & 151,000 & 148.000 \\ \hline Accumulated depreciation, equipment & (39.000) & (23,000) \\ \hline Total Asset & $818,000 & $826,000 \\ \hline \multicolumn{3}{|c|}{ Liabilities and Stockholders' Equity } \\ \hline Accounts paryble & $178,500 & $238,500 \\ \hline Income taxes pryable & 9.200 & 4,200 \\ \hline Notes payable (long-term) & 46,000 & 24,000 \\ \hline Bonds payable & 102,000 & 210.000 \\ \hline Commonstock, $10 par value & 194,000 & 150.000 \\ \hline Additional paid in capital & 185,440 & 121,440 \\ \hline Retained earnings & 102,860 & 77,860 \\ \hline Total Liabilities and Stockholders' Equity & $818,000 & $826,000 \\ \hline \end{tabular} During 2016, Stephanie Ram Corporation engaged in the below transactions: 1) Sold at a gain of $4,000, equipment that cos1$35,800, on which it had accumulated depreciation of $28,000. 2) Paid a $22,000 notes paryable. 3) Purchased equipment in the amount of $38,800. 4) Comerted bonds payable in the amount of $108,000 into 4,400 shares of commonstock 5) Borrowed $44,000 by signing a note. 6) Declared and psid $4.000 in cish dividends. \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{\begin{tabular}{l} Stephanie Ram Corporation \\ Comparative Balance Sheets \\ March 31,2016 and 2015 \end{tabular}} \\ \hline & 2016 & 2015 & & Change \\ \hline \multicolumn{5}{|c|}{ Assets } \\ \hline Cash & $189,000 & $40,000 & s & \\ \hline Accounts receivable (net) & 177,000 & 212,000 & & \\ \hline Merchandise inventory & 336,000 & 446,000 & & \\ \hline Prepaid rent & 4,000 & 3,000 & & \\ \hline Equipment & 151,000 & 148,000 & & \\ \hline Accumulated depreciation, equipment & (39,000) & (23,000) & & \\ \hline \multirow[t]{2}{*}{ Total Asset } & $818,000 & $826,000 & $ & \\ \hline & \multicolumn{2}{|c|}{ Liabilities and Stockholders' Equity } & & 5 \\ \hline Accounts payable & $178,500 & $238,500 & $ & \\ \hline Income taxes payatile & 9,200 & 4,200 & & \\ \hline Notes payable (long term) & 46,000 & 24,000 & & \\ \hline Bonds payable: & 102,000 & 210.000 & & \\ \hline Common stock, $10 par value & 194,000 & 150.000 & & \\ \hline Additional paid-in capital & 185,440 & 121,440 & & \\ \hline Retained earnings & 102,860 & 77,860 & & \\ \hline Total Liabilities and Stockholders' Equity & $818,000 & $826,000 & s & \\ \hline \end{tabular}