THUNDER-UP CORPORATION Balance Sheets At December 31, 2016 2015 Assets: 21.240 $23.040 Cash 32.80 200,400 Accounts receivable 73.125 61.710 Merchandise inventory 55.900 56400 Long-term investments (1) Equipment (2) (3) 175.500 145,500 Accumulated depreciation 33.550 Total assets SS24.39S S2R4 R50 Liabilities: Accounts payable 65.000 S 40.380 10.200 Incomes taxes payable Bonds payable (40 48.50 60,000 $124,475 S116,580 Total liabilities Equity: Common stock (6) I 17.000 96.000 Contributed capital in excess of pay 13.000 9000 920 632200 Retained earnings (5) Total equity 8199.920 $168.270 Total liabilities and equity S3243SS S2S4S50 THUNDER-UP CORPORATION Income Statement For Year Ended December 31, 2016 Sales $240,000 S84900 Cost of goods sold 2o400 Depreciation expense 4S.00 Other operating expenses Interest expense 2,000 (164,300) Other gains (losses): Loss on sale of equipment Income before taxes 2760 Income taxes expense Net income