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ARDUOUS COMPANY Comparative Balance Sheets December 31, 2016 and 2015 (S in millions) 2016 2015 Assets 116 Cash 81 Accounts receivable 190 94 Investment revenue receivable 205 200 inventory Prepaid insurance Long-term investment 156 125 Land 196 50 Buildings and equipment Less: Accumulated depreciation 412 400 97 120 Paten 30 32 1,218 1,074 Liabilities Accounts payable 50 65 Salaries payable 11 Bond interest payable Income tax payable 12 Deferred income tax liability Notes payable 23 Lease liability 82 Bonds payable 215 275 Less: Discount on bonds 22 (25 Shareholders' Equity Common stock 430 410 Paid -excess of par 95 85 n Capital Preferred stock 75 Retained earnings 242 227 Less: Treasury stock 1.218 1,074 ARDUOUS COMPANY Income Statement For Year Ended December 31. 2016 in millions Revenues and gain: Sales revenue $4.10 Investment revenue 2 $423 Gain on sale of treasury bills Expenses and loss Cost of goods sold 180 Salaries expense 73 Depreciation expense 12 Patent amortization expense nsurance expense Bond interest expense 28 Loss on machine damage 18 Income tax expense 36 356 (67 Net income