The comparative balance sheet of ConnieJo Company, for Years 1 and 2 ended December 31 appears in condensed form as follows: Line Item Description Year 2 Year 1 Assets Cash $45,000 $53,500 Accounts receivable (net) 51,300 58,000 Inventories 147,200 135,000 Investments 0 60,000 Equipment 493,000 375,000 Accumulated depreciationequipment (113,700) (128,000) Total assets $622,800 $553,500 Liabilities and Stockholders' Equity Accounts payable $61,500 $42,600 Bonds payable, due Year 4