The comparative balance sheet of Cromme Inc. for December 31, 2016 and 2015, is as follows: Dec.

The comparative balance sheet of Cromme Inc. for December 31, 2016 and 2015, is as follows:

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Dec. 31, 2016 Dec. 31, 2015 Assets Cash Accounts receivable (net Inventories Investments Land .. $ 585,920 208,960 617,120 240,000 0 553,120 (166.400) (148,000) $2,057,120 625,760 227,840 641,760 328,000 705,120 Equipment.... Accumulated depreciation-equipment . .. Liabilities and Stockholders' Equity 42,240 24,000 150,000 417,500 1,303,860 404,960 52,640 19,200 100,000 280,000 1,200,320 $2,057,120 Accrued expenses payable (operating expenses) Dividends payable. Paid-in capital: Excess of issue price over par-common stock.... The income statement for the year ended December 31, 2016, is as follows $5,372,559 3,306,190 $2,066,369 Gross profit .. .._.... Operating expenses: 18,400 1,755,402 1,773,802 S292,567 Other income: 40,000 332,567 133,027 S 199,540 Income before income tax