Condensed financial data of Bridgeport Corp. follow.

Bridgeport Corp.
Comparative Balance Sheets
December 31

Assets

2017

2016

Cash
$ 151,096

$ 90,508

Accounts receivable
164,186

71,060

Inventory
210,375

192,330

Prepaid expenses
53,108

48,620

Long-term investments
258,060

203,830

Plant assets
532,950

453,475

Accumulated depreciation
(93,500

)

(97,240

)

Total
$1,276,275

$962,583

Liabilities and Stockholders’ Equity

Accounts payable
$ 190,740

$ 125,851

Accrued expenses payable
30,855

39,270

Bonds payable
205,700

273,020

Common stock
411,400

327,250

Retained earnings
437,580

197,192

Total
$1,276,275

$962,583

Bridgeport Corp.
Income Statement Data
For the Year Ended December 31, 2017

Sales revenue
$726,420

Less:
Cost of goods sold
$253,310

Operating expenses, excluding depreciation
23,207

Depreciation expense
86,955

Income tax expense
51,014

Interest expense
8,845

Loss on disposal of plant assets
14,025

437,356

Net income
$ 289,064