The following financial statements apply to Adams Company: Revenues Expenses Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense Total expenses Net income Assets Current assets Cash Marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Plant and equipment (net) Intangibles Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Accounts payable Other Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock (47,000 shares) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Year 2 $ 220,200 Year 1 $181,800 125,100 102,100 21,000 19,000 10,100 9,100 2,500 2,500 19,300 16,200 178,000 148,900 $ 42,200 $ 32,900 5,300 $ 7,700 1,200 1,200 36,600 31,900 100,800 95,700 3,900 2,900 147,800 139,400 105,000 105,000 20,000 0 $ 272,800 $244,400 $ 39,700 $ 35,900 15,500 16,700 55,200 52,600 64,000 65,000 119,200 117,600 113,600 113,600 40,000 13,200 153,600 126,800 $272,800 $244,400