Cash Accounts receivable Inventory Investments Intangibles Balance Sheet December 31, 2020 Global Company Local Company $ 40,000 $ 255,000 145,000 490,000 220,000 770,000 130,000 410,000 43,000 90,000 550,000 1000,000 $1,078,000 Property, plant, and equipment Total assets Accounts payable Bonds payable Preferred stock, $1 par Common stock, $10 par Retained earnings Total liabilities and capital $ 190,000 $2,965,000 $ 505,000 1,240,000 310,000 160,000 100,000 310,000 850,000 148,000 310,000 $1,078,000 $2,965,000 Income Statement For the Year Ended December 31, 2020 Sales Cost of goods sold Selling and administrative expenses Interest expense Income taxes Net income Global Company Local Company $3,465,000 $15,400,000 2,392,500 11,275,000 759,000 3,190,000 33,000 148,000 176,000 357,500 $ 141,900 $ 401,500