U U Stephanie Ram Corporation's Income Statement for the year ended March 31, 2016, and Its Comparative Baldrice $1,926,500 1,437,300 $489,200 Stephanie Ram Corporation Income Statement For the Year Ended March 31, 2016 Sales Cost of goods sold Gross margin Operating expenses: Salaries expense $127,200 Depreciation expense 50,600 All other operating expense 271,400 Total operating expense Income from operations Other income/expensesli Gain on sale of equipment $5,000 Interest expense (23,800) Income before income taxes Income taxes expense Net income 449,200 40,000 (18,800) $21,200 3,800 $17.400 2015 Stephanie Ram Corporation Comparative Balance Sheets March 31, 2016 and 2015 2016 Assets $180,400 Cash Accounts receivable (net) 182.000 Merchandise inventory 355.000 Prepaid rent 5.000 550.000 216,000 458.000 3,000 2015 2016 Assets Cash $180,400 Accounts receivable (net) 182,000 Merchandise inventory 358,000 Prepaid rent 5,000 Equipment 151,000 Accumulated depreciation, equipment (47,000) Total Asset $829,400 Liabilities and Stockholders' Equity Accounts payable $170,400 Income taxes payable 9.500 Notes payable (long-term) 51.000 Bonds payable 100,000 Common stock, $10 par value 220,000 Additional paid in capital 190,440 Retained earnings 88,060 Total Liabilities and Stockholders' Equity $829,400 $50,000 216,000 458,000 3,000 148,000 (25,000) $850,000 $232,400 4,500 26,000 220,000 170,000 120,440 76,660 $850,000 During 2016, Stephanie Ram Corporation engaged in the below transactions: 1) Sold at again of $5,000, equipment that cost $37,000, on which it had accumulated depreciation of $28.600 2) Paid a $25.000 notes payable. 3) Purchased equipment in the amount of $40,000 4) Converted bonds payable in the amount of $120,000 into 5,000 shares of common stock 5) Borrowed $50,000 by signing a note. 6) Dedarea and paid $6.000 in cash dividends. Calcutate the change increase and decrease for Stephanie Ram Corporation's Balance Sheet (Enter negative amounts using et