Shown below are comparative balance sheets for Carla Vista
Company.
Carla Vista Company
Comparative Balance Sheets
December 31
Assets
2022
2021
Cash
$ 170,000
$ 55,000
Accounts receivable
220,000
190,000
Inventory
417,500
472,500
Land
200,000
250,000
Equipment
650,000
500,000
Accumulated depreciation—equipment
(165,000
)
(80,000
)
Total
$1,492,500
$1,387,500
Liabilities and Stockholders’ Equity
Accounts payable
$ 97,500
$ 107,500
Bonds payable
375,000
500,000
Common stock ($1 par)
540,000
435,000
Retained earnings
480,000
345,000
Total
$1,492,500
$1,387,500
Additional information:
1.
Net income...