Comparative financial statement data for Carmono Company follow: This Year Last Year Assets Cash Accounts receivable Inventory Total current assets Property, plant, and equipment $ 6.50 46.00 87.50 140.00 225.00 44.00 181.00 12.00 39.00 74.00 125.00 190.00 33.00 157.00 Less accumulated depreciation Net property, plant, and equipment Total assets $321.00 $282.00 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity 52.50 110.00 158.50 $321.00 $44.00 85.00 153.00 $282.00 For this year, the company reported net income as follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Net income $750.00 450.00 300.00 280.00 $ 20.00