The comparative balance sheet of Iglesias Inc. for December 31, 20Y3 and 20Y2, is shown as follows: 2 1 Dec. 31, 20Y3 Dec. 31, 20Y2 Assets 3 Cash 4 Accounts receivable (net) 5 Inventories 6 Investments 7 Land 8 Equipment $625,820.00 $586,050.00 227,530.00 209,880.00 641,480.00 616,920.00 0.00 240,910.00 327,510.00 0.00 704,830.00 554,110.00 9 Accumulated depreciation-equipment (165,750.00) (148,570.00) 10 Total assets $2,361,420.00 $2,059,300.00 11 Liabilities and Stockholders' Equity 12 Accounts payable $424,970.00 $405,330.00 13 Accrued expenses payable 42,810.00 51,640.00 14 Dividends payable 23,200,00 19,840.00 15 Common stock, $4 par 158,000.00 98,000.00 16 Excess of paid-in capital over par 417,900.00 280,700.00