Comparative financial statement data for Carmono Company follow Assets Cash Accounts receivable Inventory S 13.00 S 25.00 72.00 65.00 120.00 107.80 Total current assets 205.00197.80 264.00 216.00 5440 40.80 Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment 209.60 175 20 Total assets $ 414.60 $ 373.00 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings s 72.00 57.00 162.00 124.00 180.60 192.00 Total liabilities and stockholders' equity 41460 $ 37300 For this year, the company reported net income as follows Sales Cost of goods sold $1,400.00 840.00 Gross margin Selling and administrative expenses 560.00 540 00 Net income S 2000