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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

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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 (S in millions) 2016 2015 Assets S 144 $ 95 204 222 18 222 214 Accounts receivable Investment revenue receivable Prepaid insurance Long-term investment 199 139 164 428 (110) (148) 49 238 Buildings and equipment Less: Accumulated depreciation Patent $1.409 $1,207 Liabilities Accounts payable Salaries payable Bond interest payable Income tax payable Deferred income tax liability Notes payable Lease liability Bonds payable $ 64 S 93 18 37 229 303 (36) (42) Less Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Preferred stock Retained earnings 424 460 114 270 228 Less: Treasury stock $ 1,409 $1,207 ARDUOUS COMPANY Income Statement For Year Ended December 31, 2016 (S in millions) Revenues and gain: 5550 Sales revenue Investment revenue Gain on sale of treasury bills 3 $579 Expenses and loss: Cost of goods sold Salaries expense Depreciation expense Patent amortization expense nsurance expense Bond interest expense

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