8. Joyner Company's income statement for Year 2 follows: Sales Cost of goods sold $ 719,000 194,000 Gross margin Selling and administrative expenses 525,000 216,000 Net operating income Gain on sale of equipment 309,000 7,000 Income before taxes Income taxes 316,000 126,400 Net income S 189 600 its balance sheet amounts at the end of Years 1 and 2 are a, follows Assets Cash Accounts recelvable invertory Prapald expenses s 138.900 58 600 78.000