Below is the income statement of Bills Art Company. Sales $4,195,197 Cost of goods sold 2,673,129 Gross profit $1,522,068 Selling, G&A expenses $ 465,831 Depreciation 160,119 Total operating expenses 625,950 Operating profit $ 896,118 Interest expense 17,849 Earning before taxes $ 878,269 Income taxes 298,052 Net Income $ 580,217 Balance Sheet Assets Cash $795,728 Accounts receivable $964,465 Other current assets $306,394 Total current assets $2,066,586 Gross plant property $2,006,256 Depreciation $ 973,660 Net plant and property $1,032,596 Other assets $ 762,035 Total Assets $3,861,217 Liabilities Liabilities Account s payable $ 382,579 Accrued expenses $ 226,977 Income taxes payable $ 380,496 Total current liabilities $ 990,052 Long term debt $ 638,250 Total Liabilities $1,628,302 Common Equity Common stock (par value) $ 3,254 Paid in capital $ 386,284 Retained earnings $2,325,737 Less treasury stock $ (482,360) Total common equity $2,232,915 Total liability and equity $3,861,217 Are the Owners (stockholders) receiving an adequate return on their investment