The following balance sheet information belongs to MorgansMotelInc.as of December 31,2017 and2016 Using the information provided,prepare a comparative balance sheet forDecember 31, 2017 and 2016in accordance with the USALI standards. Please use Exhibit 7 inchapter in your textbook as the proper balance sheet format for this exercise.

Accounts 2017 2016

Cash $1,850,000 $1,720,000

Accounts receivable1,240,000 1,100,000

Marketable securities 890,000 925,000

Inventories 250,000 280,000

Operating equipment (current) 345,000 320,000

Prepaidrent 260,000 220,000

Prepaid insurance 125,000 110,000

Land 3,400,000 3,400,000

Building 8,200,000 8,200,000

Furnishings and Equipment 1,400,000 1,400,000

Accumulated depreciation 4,600,000 4,200,000

Accounts payable 990,000 920,000

Accrued expenses 128,000 134,000

Notes payable-long term 2,600,000 2,900,000

Mortgage payable 2,760,000 2,860,000

Common stock 1,200,000 1,200,000

Additional paid-in capital 2,482,000 2,482,000

Retained earnings 3,200,000 2,979,000