Current Attempt in Progress
The comparative balance sheets of Nash Corporation at the beginning and end of the year 2025 are as follows.
\begin{tabular}{|c|c|c|c|c|}
\hline \multirow{2}{*}{ Assets } & \begin{tabular}{l}
orporation \\
ce Sheets
\end{tabular} & & \multirow{2}{*}{\multicolumn{2}{|c|}{ Inc./Dec. }} \\
\hline & Dec. 31, 2025 & Jan. 1, 2025 & & \\
\hline Cash & \( \$ 21,530 \) & \( \$ 14,530 \) & \( \$ 7,000 \) & Inc. \\
\hline Accounts receivable & 107,530 & 89,530 & 18,000 & Inc. \\
\hline Equipment & 40,530 & 23,530 & 17,000 & Inc. \\
\hline Less: Accumulated depreciation-equipment & 17,000 & 11,000 & 6,000 & Inc. \\
\hline Total & \( \$ 152,590 \) & \( \$ 116,590 \) & & \\
\hline Liabilities and Stockholders' Equity & & & & \\
\hline Accounts payable & \( \$ 21,530 \) & \( \$ 16,530 \) & \( \$ 5,000 \) & Inc. \\
\hline Common stock & 101,530 & 81,530 & 20,000 & Inc. \\
\hline Retained earnings & 29,530 & 18,530 & 11,000 & Inc. \\
\hline Total & \( \$ 152,590 \) & \( \$ 116,590 \) & & \\
\hline
\end{tabular}
Net income of \( \$ 45,530 \) was reported, and dividends of \( \$ 34,530 \) were paid in 2025 . New equipment was purchased and none was sold.
