At December 31 Assets Cashi MONTGOMERY INCORPORATED Comparative Balance Sheets Accounts receivable, net Inventory Total current assets Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable Salaries payable Total current liabilities Equity Common stock, no par value Retained earnings. Total liabilities and equity MONTGOMERY INCORPORATED Income Statement For Current Year Ended December 311 Sales Cost of goods sold Gross profit Salaries expense Depreciation expense Income before taxes Income tax expense Net income. $ 45,900 (19,100) 26,800 5,500 7,100 14,200 3,400 $ 10,800 Current Year Prior Year $ 31,000 10,300 92,400 133,700 51,200 (23,100) $ 161,800 $ 24,600 500 25,100 112,800 23,900 $ 161,800 $ 31,200 12,600 72,800 116,600 43,100 (16,000) $ 143,700 $ 26,600 600 27,200 103,400 13,100 $ 143,700