The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8. Dec. 31, 20Y7 Assets Cash $60,030 $73,950 Accounts receivable (net) 92,240 99,690 Inventories 131,770 123,570 Prepaid expenses 5,370 3,740 Equipment 268,430 221,380 Accumulated depreciation-equipment (69,790) (54,290) Total assets $488,050 $468,040 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $102,490. $97,820 Mortgage note payable 0 140,410 Common stock, $1 par 16,000. 10,000 Paid-in capital in excess of par-common stock 234,000 132,000 Retained earnings 135,560 87,810 Total liabilities and stockholders' equity $488,050 $468,040 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: