Bonita Company Income Statement For the Year Ended December 31,2017 $1,076,700 Operating expenses, excluding depreciation $681,540 61,050 Loss on disposal of plant assets Income before income taxes Income tax expense Net income 17.760 760,350 316,350 62,160 $254,190 Bonita Company's balance sheet contained the comparative data at December 31. 2017 2016 Accounts receivable $77,700 $66,600 Accounts payable Income taxes payable14,4307.770 45,510 35,520 Accounts payable pertain to operating expenses