Comparative financial statement data for Carmono Company follow: This Year Last Year Assets Cash Accounts receivable Inventory S 5.50 S 10.00 35.00 68.80 42.00 82.50 Total current assets 130.00 113.80 Property, plant, and equipment 219.00 186.00 31.80 Less accumulated depreciation 42.40 Net property, plant, and equipment 176.60 54.20 Total assets S 306.60 $268.00 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings S 49.50 S 42.00 79.00 155.10 147.00 102.00 Total liabilities and stockholders' equity S 306.60 $268.00 For this year, the company reported net income as follows Sales Cost of goods sold 650.00 390.00 Gross margin Selling and administrative expenses 260.00 240.00 Net income S 20.00