The following are comparative balance sheets for Bramble Company. BRAMBLE Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $73,500 $32,900 Accounts receivable 86,200 70,600 Inventory 169,600 187,200 Land 73,300 101.200 Equipment 259,600 200.700 Accumulated depreciation-equipment (66,400) (33,900) Total $595,800 $558.700 Liabilities and Stockholders' Equity Accounts payable $35.300 $46,600 Bonds payable 151,500 203.000 Common stock ($1 par) 217.200 174.700 Retained earnings 191,800 134.400 Total $595,800 $558,700 Additional information: 1. Net income for 2022 was $101,500. 2. Depreciation expense was $32,500. 3. Cash dividends of $44,100 were declared and paid. 4. Bonds payable with a carrying value of $51,500 were redeemed for $51,500 cash. 5. Common stock was issued at par for $42,500 cash. 6. No equipment was sold during 2022.