4 ! Part 3 of 3 Required information [The following information applies to the questions displayed below.] 1.28 points 8 01:23:50 eBook Cost of goods sold Other operating expenses Income statements for the current year and one year ago, follow. Assume that all sales are on credit. For Year Ended December 31 Sales Current Year 1 Year Ago $ 574,627 $ 453,453 $ 350,522 178,134 9,769 7,470 294,744 114,724 10,429 6,802 545,895 $ 28,732 426,699 $ 26,754 $ 1.77 $ 1.65 Interest expense Income tax expense Total costs and expenses Net income Earnings per share Year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Inventory Prepaid rent Machinery, net Total assets Current Year 1 Year Ago 2 Years Ago $ 26,601 $ 31,399 31,126 77,097 53,347 41,916 94,084 71,200 45,538 3,424 8,230 236,009 83,931 7,842 217,265 $ 381,053 192,396 $ 314,400 $ 40,671 68,093 162,500 43,136 $ 314,400 $ 442,021 Liabilities and Equity Accounts payable $ 110,063 Long-term notes payable $ 65,042 89,395 Common stock Retained earnings 162,500 85,527 162,500 64,116 Total liabilities and equity $ 442,021 $ 381,053 Complete this question by entering your answers in the tabs below. Check my work 2