Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Megatrobolize industries. Additional information from the accounting records of Megatrobolize is also provided.

METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2018 and 2017 s in 000s) 2018 2017 Assets Cash Accounts receivable Inventory Land Building $ 510 265 320 415 525 700 (250) (220) 3,150 2,930 610 760 600 700 Less: Accumulated depreciation Equipment Less: Accumulated depreciation (418) (380) Patent 1300 1,600 6,962 6,155 Liabilities Accounts payable Accrued expenses payable Lease liability-land Shareholders Equity Common stock Paid-in capital-excess of par Retained earnings $860 710 235 280 130 3,650 3,500 485 2:4921,225 s 6,962 6,155 550 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2018 (s in 000s) Revenues Sales revenue Gain on sale of land $3,101 95 $3,196 Expenses Cost of goods sold Depreciation expense-building Depreciation expense-equipment Loss on sale of equipment Amortization of patent Operating expenses $1,060 30 524 20 300 400 2,334 s 862 Net income