The comparative balance sheets for 2016 and 2015 and the statement of income for 2016 are given below for National Intercable Company. Additional information from NIC's accounting records is provided also. NATIONAL INTERCABLE COMPANY Comparative Balance Sheets December 31, 2016 and 2015 in millions) 2016 2015 Assets Cash 149 110 Accounts receivable 329 320 Prepaid insurance 10 nventory 306 300 Long-term investment 59 90 Land 210 210 330 310 Buildings and equipment Less: Accumulated depreciation (110) (100) Trademark 28 30 $1,305 1,280 Liabilities Accounts payable 41 60 Salaries payable Deferred income tax liability 26 20 Lease liability 80 Bonds payable 140 300 Less: Discount on bonds (27) (31) Shareholders' Equity Common stock 330 310 Paid-in capita excess of par 135 105 Preferred stock 60 Retained earnings 515 508 1,305 1,280 NATIONAL INTERCABLE COMPANY Income Statement For Year Ended December 31, 2016 in m ons) Revenues Sales revenue 450 Investment revenue 16 Gain on sale of investments 473 Expenses Cost of goods sold 200 Salaries expense 66 Depreciation expense 25 Trademark amortization expense Insurance expense 30 Bond interest expense 45 Loss on building fire 41 409 Income before tax 64 Income tax expense 31 Net income 33