The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $234 $18 Accounts receivable (net) 70 63 Inventories 150 127 Land Equipment Accumulated depreciation-equipment 320 422 262 224 (87) (54) Total assets $949 $800 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $65 $47 Dividends payable 6 Common stock, $1 par 160 102 Excess of paid-in capital over par 109 90 Retained earnings 609 561 Total liabilities and stockholders' equity $949 $800 The following additional information is taken from the records: 1. Land was sold for $153. Check My Work