The comparative balance sheets of Indigo Corporation at the beginning and end of the year 2017 appear below INDIGO CORPORATION BALANCE SHEETS Dec. 31, 2017 Jan. 1, 2017 Inc./Dec. Assets Cash Accounts receivable Equipment Less: Accumulated Depreciation-Equipment $21,350 107,350 40,350 (17,000)(11,000 6,000 Ind. $14,570 $6,780 Inc. 89,57017,780 Inc. 23,570 16,780 Inc. $152,050 $116,710 Total Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings $21,350 101,350 29,350 $152,050 4,780 Ind. 81,57019,780 Inc. 18,570 10,780 Inc. $16,570 Total $116,710 Net income of $45,350 was reported, and dividends of $34,570 were paid in 2017. New equipment was purchased and none was sold