Company has prepared the following financial statements:

JKS Goods, Inc. Income Statement For the Year Ended December 31, 2017 Revenue Deferred revenue 25,000 Product sales $ 300,000 Total revenue $ 325,000 Cost of goods sold S 11,660 Contribution margin $ 313,340 Operating expenses Salaries expense 90,000 Payroll tax expense S 9,585 Rent expense S 65,000 Bad Debt Expense S 2,000 Supplies expense S 22,000 Depreciation expense S 28,000 Interest Expense S 4,000 Pretax income S 92,755 Income tax expense S 13,913 Net income S 78,842 Earnings per Share S 5.26 JK5 Goods, Inc. Statement of Stockholders' Equity As of December 31, 2017 Total Common Stock Additional Paid- Retained Treasury Stock Stockholders' Shares Amount in Capital Earnings Shares Amount Equity Balance as of January 1, 2017 15,000 $ 30,000 3,500 $ 31,020 (6,000) $ (13,500) S 51,020 Treasury stock, re-sold 1,000 500 1,125 S 2,125 Cash dividends $ (15,000) (15,000) Net Income $ 78,842 78,8-42 Balance as of December 31, 2017 15,000 $ 30,000 5 4,500 $ 94,862 (5,500) $ (12,375) $ 116,987