The comparative balance sheet of Orange Angel Enterprises Inc. at December $31,20$Y$8$ and $20$Y$7,$ is as follows: $1$ Dec. $31,20$Y$8$ Dec. $31,20$Y$72$ Assets $3$ Cash $$145,670\mathrm{.}00$ $$179,640\mathrm{.}004$ Accounts receivable $($net$)225,480\mathrm{.}00241,430\mathrm{.}005$ Merchandise inventory $320,660\mathrm{.}00298,210\mathrm{.}006$ Prepaid expenses $12,990\mathrm{.}008,900\mathrm{.}007$ Equipment $655,730\mathrm{.}00537,410\mathrm{.}008$ Accumulated depreciation$-$equipment $(171,620\mathrm{.}00)(132,200\mathrm{.}00)9$ Total assets $$1,188,910\mathrm{.}00$ $$1,133,390\mathrm{.}0010$ Liabilities and Stockholders$$ Equity $11$ Accounts payable $($merchandise creditors$)$ $$250,770\mathrm{.}00$ $$237,180\mathrm{.}0012$ Mortgage note payable $0\mathrm{.}00336,110\mathrm{.}0013$ Common stock, $$10$ par $74,000\mathrm{.}0024,000\mathrm{.}0014$ Excess of paid$-$in capital over par $480,000\mathrm{.}00320,000\mathrm{.}0015$ Retained earnings $384,140\mathrm{.}00216,100\mathrm{.}0016$ Total liabilities and stockholders$$ equity $$1,188,910\mathrm{.}00$ $$1,133,390\mathrm{.}00$ Additional data obtained from the income statement and from an examination of the accounts in the ledger for $20$Y$8$ are as follows: a$.$ Net income, $$321,680.$ b$.$ Depreciation reported on the income statement, $$84,000.$ c$.$ Equipment was purchased at a cost of $$162,900,$ and fully depreciated equipment costing $$44,580$ was discarded, with no salvage realized. d$.$ The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty. e$.10,000$ shares of common stock were issued at $$21$ for cash. f$.$ Cash dividends declared and paid, $$153,640.$