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 $ 8 $ 12 290 220 100 160 7 5 405 397 530 420 100 70 430 350 26 32 $ 861 $ 779 $ 240 $ 210 60 70 74 62 374 342 170 120 544 462 199 250 118 67 317 317 $ 861 $ 779 Weaver Company Income Statement For This Year Ended December 31 Sales $ 720 Cost of goods sold 410 Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments Toes on sale of equipment: 310 225 85 $ 12 (7)