The comparative balance sheets for 2016 and 2015 and the income statement for 2016 are given below for Arduous Company. Additional information from Arduous's accounting records is provided also. ARDUOUS COMPANY Comparative Balance Sheets December 31, 2016 and 2015 in millions) 2016 2015 Assets Cash 134 90 Accounts receivable 212 Investment revenue receivable 16 13 Inventory 214 209 Prepaid insurance 14 21 Long-term investment 184 134 Land 214 159 421 Buildings and equipment 418 Less: Accumulated depreciation (107) (138) Patent 40 44 1,329 1,162 Liabilities Accounts payable 59 83 Salaries payable 16 21 Bond interest payable 18 13 Income tax payable 21 23 Deferred income tax liability 29 17 Notes payable 27 Lease liability 91 Bonds payable 224 293 Less: Discount on bonds (31) (34) Shareholders' Equity Common stock 455 419 Paid-in capital-excess of par 109 94 Preferred stock 245 Retained earnings 233 Less: Treasury stock (18) 1,329 1,162 The comparative balance sheets for 2016 and 2015 and the income statement for 2016 are given below for Arduous Company. Additional information from Arduous's accounting records is provided also. ARDUOUS COMPANY Comparative Balance Sheets December 31, 2016 and 2015 in millions) 2016 2015 Assets Cash 134 90 Accounts receivable 212 Investment revenue receivable 16 13 Inventory 214 209 Prepaid insurance 14 21 Long-term investment 184 134 Land 214 159 421 Buildings and equipment 418 Less: Accumulated depreciation (107) (138) Patent 40 44 1,329 1,162 Liabilities Accounts payable 59 83 Salaries payable 16 21 Bond interest payable 18 13 Income tax payable 21 23 Deferred income tax liability 29 17 Notes payable 27 Lease liability 91 Bonds payable 224 293 Less: Discount on bonds (31) (34) Shareholders' Equity Common stock 455 419 Paid-in capital-excess of par 109 94 Preferred stock 245 Retained earnings 233 Less: Treasury stock (18) 1,329 1,162