The comparative balance sheet of barry company for 2011 and

The comparative balance sheet of Barry Company, for 2011 and the preceding year ended December 31, 2010, appears below in condensed form:

	Year	Year
	2011	2010
Cash	$ 72,000	$ 42,500
Accounts receivable (net)	61,000	70,200
Inventories	121,000	105,000
Investments	.....	100,000
Equipment	515,000	425,000
Accumulated depreciation-equipment	(153,000)	(175,000)
	$616,000	$567,700

Accounts payable	$ 59,750	$ 47,250
Bonds payable, due 2011	.....	75,000
Common stock, $20 par	375,000	325,000
Premium on common stock	50,000	25,000
Retained earnings	131,250	95,450
	$616,000	$567,700

Additional data for the current year are as follows:

(a)	Net income, $75,800.
(b)	Depreciation reported on income statement, $38,000.
(c)	Fully depreciated equipment costing $60,000 was scrapped, no salvage, and equipment was purchased for $150,000.
(d)	Bonds payable for $75,000 were retired by payment at their face amount.
(e)	2,500 shares of common stock were issued at $30 for cash.
(f)	Cash dividends declared and paid, $40,000.
(g)	Investments of $100,000 were sold for $125,000.

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