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CoursHeroTranscribedText: The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is...

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CoursHeroTranscribedText: The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash .... $ 155,000 $ 150,000 Accounts receivable (net) . 450,000 400,000 Inventories . . . .. . 770,000 750,000 Investments . .... 0 100,000 Land . . . .. . 500,000 0 Equipment. .. .... 1,400,000 1,200,000 Accumulated depreciation-equipment (600,000) (500,000) Total assets .. ....... $2,675,000 $2,100,000 Liabilities and Stockholders' Equity Accounts payable . ..... $ 340,000 $ 300,000 Accrued expenses payable . . . .. 45,000 50,000 Dividends payable. . . .... 30,000 25,000 Common stock, $4 par. .. ... . 700,000 600,000 Paid-in capital: Excess of issue price over par-common stock . . . . . 200,000 175,000 Retained earnings . . .. ..... 1,360,000 950,000 Total liabilities and stockholders' equity. . .. $2,675,000 $2,100,000

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