Assets Cash I -III'u a...\"- Comparative Balance Sheets June 30, 2019 and 2018 Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciationEquipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity 2019 2018 $ 91,000 $ 32,200 76,000 59,000 65,000 90,000 5,900 7,400 237,900 188,600 189,000 175,000 (48,000) (16,000) $378,900 $347,600 $ 28,000 $ 34,000 8,000 20,000 4,100 4,600 40,100 58,600 35,000 70,000 75,100 128,600 250,000 180,000 53,800 39,000 $378,900 $347,600 FIELDS INC. Income Statement For Year Ended June 30, 2019 Sales $998,000 Cost of goods sold 611,000 Gross profit 387,000 Operating expenses Depreciation expense $83,000 other expenses 99,000 Total operating expenses 182,000 205,000 other gains (losses) Gain on sale of equipment 6,100 Income before taxes 211,100 Income taxes expense 64,620 Net income $146,480