Complete the comparative income statement and balance sheet for Logic Company. (Input all answers as positive values except decrease answers which should be indicated by a minus sign. Round your "percent" answers to the nearest hundredth percent.) es LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2019 and 2020 Increase (Decrease) 2020 2019 Amount Percent Gross sales $ 20,600 $ 16,200 $ 4,400 27.16 Sales retums and allowances 800 100 700 700.00 Net sales $ 19,800 $ 16,100 $ 3,700 22.98 Cost of merchandise (goods) sold 11,600 8,600 3,000 34.88 Gross profit $ 8,200 $ 7,500 700 9.33 Operating expenses: Depreciation S 860 $ 680 $ 180 26.47 Selling and administrative 3,400 2.800 600 21.43 Research 710 580 130 22.41 Miscellaneous 520 380 140 36.84 Total operating expenses $ 5,490 $ 4,440 $ 1,050 23.65 Income before interest and taxes S 2,710 $ 3,060 $ (350) (11.44) Interest expense 720 580 140 24.14 Income before taxes S 1.990 S 2,480 $ (490) (19.76) Provision for taxes 796 992 (196) (19.76) Net income S 1,194 $ 1,488 $ (294) (19.76) LOGIC COMPANY Comparative Balance Sheet December 31, 2019 and 2020 2020 2019 Amount Percent Amount Percent Assets Current assets: Cash $ $ 12,800 17,300 9,300 24,800 64,200 9,800 13,300 14,800 10,800 48,700 $ $ Accounts receivable Merchandise inventory Prepaid expenses Total current assets Plant and equipment: Building (net) Land Total plant and equipment Total assets $ $ 15,300 14,300 29,600 93,800 11,800 9,800 21,600 70,300 $ $ $ $ Liabilities $ $ Current liabilities: Accounts payable Salaries payable Total current liabilities Long-term liabilities: 13,800 7,800 21,600 7,800 5,800 13,600 $ $ 17,300 13,300 9,300 14,800 10,800 24,800 $ 64,200 $ 48,700 Accounts receivable Merchandise inventory Prepaid expenses Total current assets Plant and equipment: Building (net) Land Total plant and equipment $ $ 15,300 14,300 29,600 93,800 11,800 9,800 21,600 70,300 $ $ Total assets $ $ Liabilities $ $ 13,800 7,800 21,600 7,800 5,800 $ $ 13,600 Current liabilities: Accounts payable Salaries payable Total current liabilities Long-term liabilities: Mortgage note payable Total liabilities Stockholders' Equity Common stock 21,400 22,700 44,300 $ $ 35,000 $ $ Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 21,800 27,700 49,500 93,800 21,800 13,500 35,300 70,300 $ $ $ $