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Complete the comparative income statement and balance sheet for Logic Company. (Input all answers as positive values except decrease answers which should be indicated by a minus sign. Round your"percent" answers to the nearest hundredth percent.) LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2016 and 2017 INCREASE (DECREASE Amount 2017 2016 Gross sales Sales returns and allowances Net sales Cost of merchandise (goods) sold Gross profit Operating expenses $ 19,000 15,000 100 $ 18,000 $14,900 9,000 1,000 12,000 $ 6,000 5,900$ Depreciation Selling and administrative Research Miscellaneous 600 2,200 2,000 500 300 S 3,810 3,400 2,190 2,500 500 S 1,630 2,000 $ 800 S 700 550 360 Total operating expenses Income before interest and taxes Interest expense Income before taxes Provision for taxes Net income 560 640 $ 990 1,200$ LOGIC COMPANY Comparative Balance Sheet December 31, 2016 and 2017 2016 2017 Amount Percent Amount Percent Assets Current assets $ 12,000 16,500 8,500 24,000 $ 61,000 $ 9,000 12,500 14,000 10,000 $45,500 Cash Accounts receivable Merchandise inventory Prepaid expenses Total current assets Plant and equipment: $ 14,500 13,500 $ 28,000 $ 89,000 Building (net) Land $ 11,000 9,000 $ 20,000 $ 65,500 Total plant and equipment Total assets Liabilities Current liabilities $ 7,000 5,000 $ 12,000 Accounts payable Salaries payable $ 13,000 7,000 $ 20,000 Total current liabilities Long-term liabilities 22,000 $42,000 20,500 $ 32,500 Mortgage note payable Total liabilities Stockholders' Equity Common stock $ 21,000 26,000 $47,000 $ 89.000 $ 21,000 12,000 $ 33,000 $65,500 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity