The following changes took place last year in Pavolik Company's balance sheet accounts: Asset and Contra-Asset Accounts Liabilities and Stockholders Equ1ty Accounts Cash $ 36D Accounts payable at. 1101 Accounts receivable $ 40 I Accrued liabilities $ 460 Inventory $ 98D Income taxes payable $ 45 I Prepaid expenses $ 35 I Bonds payable at. 332 I Longterm investments $ 37D Common stock $ 160D Property, plant, and equipment $ 535 I Retained earnings $ 130I Accumulated depreciation $ 138I D = Decrease; l = Increase. Longterm investments that cost the company $37 were sold during the year for $78 and land that cost $77 was sold for $40. In addition. the company declared and paid $34 in cash dividends during the year. Besides the sale ofland, no other sales or retirements of plant and equipment took place during the year. Pavolil