Comparative statement data for Farris Company and Ratzlaff Company, two competitors, appear below. All balance sheet data are as of December 31, 2017, and December 31, 2016.

Problem 14-1A data Farris Company and Ratzlaff Company, two competitors, appear below. All balance sheet data are as of December 3 Comparative statement for 2017, and December 31, 2016. Farris Company Ratzlaff Company 2017 2017 2016 2016 Net sales $1,520,000 $339,000 Cost of goods sold 1,030,000 240,600 301,100 Operating expenses 80,000 Interest expense 8,200 2,300 7,000 53,500 Income tax expense Current assets 322,000 $310,600 82,600 $79,200 519,900 498,200 140, 100 124,500 Plant assets (net) Current liabilities 65,000 75,000 35,800 31,400 108,000 90,200 28,600 25,200 Long-term liabilities 497,000 497,000 117,000 117,000 Common stock, $10 par 171,900 146 600 41,300 30,100 Retained earnings