16 Retained Earnings 17 Total Stockholders' Equity 18 89 19 Total Liabilities and Stockholders' Equity 20 Income Statement 21 Net Sales (all on account) 22 Cost of Goods Sold 23 Gross Profit 24 Operating Expenses 25 Income from Operations 26 Interest Expense 27 Income before Income Tax Expense 28 Income Tax Expense 29 Net Income 30 227,100 129,080 526,100 428,080 $895,400 $748,880 $3,031,000 1,949,000 1,082,000 891,400 190,600 14,500 176,100 47,000 $129,100