The comparative balance sheet of Merrick Equipment Co. for Dec. 31, 20Y9 and 20Y8, is: Assets Dec. 31, 20Y9 Dec. 31, 20Y8 Cash Accounts receivable (net) $70,720 $47,940 207,230 188,190 Inventories 298,520 289,850 Investments 0 102,000 Land 295,800 0 Equipment Accumulated depreciation-equipment Total assets 438,600 358,020 (99,110) (84,320) $1,211,760 $901,680 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $205,700 $194,140 Accrued expenses payable (operating expenses) 30,600 26,860 Dividends payable Common stock, $1 par 25,500 20,400 202,000 102,000 Paid-in capital in excess of par-common stock 354,000 204,000 - Retained earnings Total liabilities and stockholders' equity 393,960 354,280 $1,211,760 $901,680