Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity This Year Last Year $ 14 $ 12 295 230 152 195 9 6 470 443 511 431 (80) (70) 431 361 28 34 $ 929 $ 838 $ 301 $ 225 72 78 72 65 445 368 198 172 643 540 164 202 122 96 286 298 $ 929 $ 838 Weaver Company Income Statement For This Year Ended December 31 Sales $ 753 Cost of goods sold 448 Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income 305 221 84 $ 7 (2) 5 89 25 $ 64