Exercise 12-4 The aurrent sections of Teal Mountain Inc's balance sheets at December 31, 2016 and 2017, are presented here. Teal Mountain Inc.s net income for Depreciation expense was $27,594 2017 2016 Current assets Cash Accounts receivable Inventory $107,310101,178 90,958 175,784 22,484 $390,404 81,760 171,696 27,594 $388,360 Prepaid expenses Total current assets Current liabilities 15,330 86,870 $ 5,110 94,024 Accrued expenses payable Accounts payable 102,200$ 99.134 Total current liabilities
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