$50 30 Part B. Given the following income statement and balance sheet: Income Statement Sales revenues Cost of goods sold Gross profit (gross margin) Selling and administrative expenses Income before taxes Income tax expense Net income Earnings per share 20 10 4 $6 Balance Sheet $2 Liabilities: 5 Accounts payable $1 Cash Inventory Current assets Equipment, at cost Less: accumulated depreciation Equipment, net of depreciation Total assets 10 10 Shareholders' Equity Common stock, $1 par value Retained earnings Total liabilities and s/equity 6 $13 Required: Determine the following amounts: 1. Income before taxes is $_10 2. Total current assets are $ 3. Accumulated depreciation is $ 4. Total liabilities and shareholders' equity are $ 5. Earnings per share is $