Comparative financial statement data for Carmono Company follow This Year Last Year AssetS Cash Accounts receivable Inventnry $ 19.0U 3r.00 89.00 150 00 139 00 96.00 Total current assets 265.00 265.00 Property, plant, and equipment 300.00 64.00 240.00 48.00 Less accumulated depreciation Net property, plant, and equipment 236.00 192.00 Tulal assels $501.00 $457.00 Liabilities and Slockholder s Equily Accounts payable Common stock Retained earnings $ 90.0U 69.00 210.00 160.00 201.00 228.00 Total liabilitics and stockholdors' cquity $501.00 $457.00 For this year, the company reported net income as follows Bales Cusl uf youds sold $2,000.00 1200.00 Gross margin Selling and administrative expenses 800.00 780 00 Net income $ 20.00 This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year