10.00 points Financial data for Redstone Company for last year appear below: Redstone Company Statements of Financial Position Beginning Ending Balance $ 305,000 147,000 266,000 468,000 233,000 417,000 395,362 136,000 247,000 435,000 259,000 417,000 Plant and equipment (net) Investment in Balsam Company Land (undeveloped) Total assets $1,836,000 $1,889,362 Liabilities and owners' equity Accounts payable Long-term debt Owners equity $ 226,000 821,000 789,000 204,000 821.000 864,362 Total liabilities and owners' equity $1,836,000 $1,889,362 Redstone Company Income statement $2,040,000 1,540,200 Less operating expenses 499,800 Net operating income Less interest and taxes: Interest expense Tax expense $ 99,500 154,938 254.438 Net income $ 245,362