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Problem 12-11A The comparative balance sheets for Skysong, Inc. as of December 31 are presented below Skysong, Inc. Comparative Balance Sheets December 31 2019 2018 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings(59,400) Equipment Accumulated depreciation-equipment (42,300) $57,500 $49,900 64,900 150,800 146,300 26,600 99,200 132,800 198,400 198,400 (31,400) 228,400155,800 (37,500) $686,500 $705,800 40,000 13,900 Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings $46,200 $39,200 260,000291,400 189,700158,300 190,600 216,900 $686,500 $705,800 Total
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