The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as follows: 1 2 Dec. 31, 20Y3 Dec. 31, 20Y2 Assets 3 Cash $155,000.00 $150,000.00 4 Accounts receivable (net) 5 Inventories 6 Investments 7 Land 8 Equipment 9 Accumulated depreciation-equipment 450,000.00 400,000.00 770,000.00 750,000.00 0.00 100,000.00 500,000.00 0.00 1,400,000.00 1,200,000.00 (600,000.00) (500,000.00) 10 Total assets $2,675,000.00 $2,100,000.00 11 Liabilities and Stockholders' Equity 12 Accounts payable $340,000.00 $300,000.00 13 Accrued expenses payable 45,000.00 50,000.00 14 Dividends payable 30,000.00 25,000.00 15 Common stock, $4 par 700,000.00 600,000.00 16 Paid-in capital: Excess of issue price over par-common stock 200,000.00 175,000.00 17 Retained earnings 1,360,000.00 950,000.00 18 Total liabilities and stockholders' equity $2,675,000.00 $2,100,000.00