Baker & Co. has applied for a loan from the Trust Us Bank in order to invest in several potential opportunities. In order to evaluate the firm as a potential debtor, the bank would like to compare Baker & Co. to the industry. The following are the financial statements given to Trust Us Bank: Balance Sheet 2019 2018 Assets Cash Accounts receivable Inventory Current assets Plant and equipment Less: acc depr Net plant and equipment Total assets 270 305 290 275 580 600 1,140 1,180 1,940 1,700 -600 500 1,340 1,200 2,480 2,380 Income Statement 2019 Sales (100% credit) 1,330 Cost of goods sold 760 Gross profit 570 Operating expenses 30 Depreciation 200 Net operating income 340 Interest expense 57 Net income before taxes 283 Taxes 96 Net income 187 2018 1,100 600 500 20 160 320 64 256 87 169 200 Liab. and Owners' Equity Accounts payable Notes payable Current liabilities Bonds Owners' Equity Common stock Paid-in-capital 150 125 275 500 200 500 305 775 165 775 5 1