The comparative balance sheets for 2018 and 2017 and the income statement for 2018 are given below for Arduous Company. Additional information from Arduous's accounting records is provided also.

ARDUOUS COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions) 2018 2017 Assets Cash $ 138 $ 92 Accounts receivable 201 216 Investment revenue receivable 17 15 Inventory 219 211 Prepaid insurance 15 23 Longterm investment 189 136 Land 218 161 Buildings and equipment 430 422 Less: Accumulated depreciation (107) (142) Patent 42 45 $1,362 $1,179 Liabilities Accounts payable $ 61 $ 87 Salaries payable 17 31 Bond interest payable 19 15 Income tax payable 23 30 Deferred income tax liability 33 19 Notes payable 28 0 Lease liability 93 0 Bonds payable 226 297 Less: Discount on bonds (33) (38) Shareholders' Equity Common stock 463 421 Paid-in capitalexcess of par 117 96 Preferred stock 89 0 Retained earnings 246 221 Less: Treasury stock 20) 0 $1,362 $1,179 ARDUOUS COMPANY Income Statement For Year Ended December 31,r 2018 ($ in millions) Revenues and gain: Sales revenue $520 Investment revenue 21 Gain on sale of treasury bills 2 $543 Expenses and loss: Cost of goods sold 191 Salaries expense 84 Depreciation expense 11 Patent amortization expense 2 Insurance expense 18 Bond interest expense 39 Loss on machine damage 24 Income tax expense 4? 416 Net income $127