The following selected data is from the financial statements of the Company for, 2017, 2016, and 2015:

	2017	2016	2015
Total Assets	4,000,000	2,980,000	6,000,000
Notes Payable (3% interest)	2,500,000	7,350,000	1,700,000
Common Stock	250,000	1,040,000	1,205,000
Preferred $2 stock, $18 par value	800,000	950,000	2,300,000
Retained Earnings	4,850,000	4,975,000	1,650,000

The balance sheet for the Corporation the end of the current fiscal year indicated the following: Common stock, $7 par 7,000,000

Bonds payable, 6% (issued in 2015, due in 2030) $ 8,000,000

Preferred 4% stock, $50 par 6,000,000