The comparative balance sheet of Posner Company for Years 1 and 2 ended December 31 appears in condensed form as follows: The income statement for the current year is as follows: Additional data for the current year are as follows: - Fully depreciated equipment costing $60,000 was scrapped, no salvage, and new equipment was purchased for $183,200. - Bonds payoble for $100,000 were retired by payment at their face amount. The comparative balance sheet of Posner Company for Years 1 and 2 ended December 31 appears in condensed form as follows: The income statement for the current year is as follows: Additional data for the current year are as follows: - Fully depreciated equipment costing $60,000 was scrapped, no salvage, and new equipment was purchased for $183,200. - Bonds payoble for $100,000 were retired by payment at their face amount