A Company Income Statement For the Year Ended December 31, 2021 Sales (all in credit) Cost of goods sold Gross profit Selling and administrative expenses Operating profit Interest expense Other income (expense), net Net income before taxes Taxes Net income Assets Balance Sheet As of December 31, 2021 4,000,000 3,000,000 1,000,000 450,000 550,000 50,000 (225,000) 275,000 75,000 200,000 Cash 30,000 Marketable securities 50,000 Accounts receivable 350,000 Inventory 370,000 Total current assets 800,000 Net plant and equipment 800,000 Net assets 1,600,000 Liabilities and Stockholders' Equity Accounts payable Notes payable 50,000 250,000