The comparative balance sheets of Posner Company, for Years 1 and 2 ended December 31, appear below in condensed form: The income statement for the current year is as follows: Additional data for the current year are as follows: (a) Fully depreciated equipment costing exist60,000 was scrapped, no salvage, and new equipment was purchased for exist183, 200. (b) Bonds payable for exist100,000 were retired by payment at their face amount. (c) 5,000 shares of common stock were issued at exist13 for cash. (d) Cash dividends declared and paid, exist25,000. The comparative balance sheets of Posner Company, for Years 1 and 2 ended December 31, appear below in condensed form: The income statement for the current year is as follows: Additional data for the current year are as follows: (a) Fully depreciated equipment costing exist60,000 was scrapped, no salvage, and new equipment was purchased for exist183, 200. (b) Bonds payable for exist100,000 were retired by payment at their face amount. (c) 5,000 shares of common stock were issued at exist13 for cash. (d) Cash dividends declared and paid, exist25,000