Condensed financial data of Simpsons Inc. Follow.

	SIMPSONS INC. Comparative Balance Sheets December 31
Assets	2014	2013
Cash	$155,136	$92,928
Accounts receivable	168,576	72,960
Inventory	216,000	197,472
Prepaid expenses	54,528	49,920
Long-term investments	264,960	209,280
Plant assets	547,200	465,600
Accumulated Depreciation	(96,000)	(99,840)
Total	$1,310,400	$988,320

Liabilities and Stockholders? Equity

	2014	2013
Accounts Payable	$195,840	$129,216
Accrued expenses payable	31,680	40,320
Bonds Payable	211,200	280,320
Common Stock	422,400	336,000
Retained Earnings	449,280	202,464
Total	$1,310,400	$988,320

Sales Revenue????????????????????????????????????????..$745,843

Less:

Cost of goods sold?????????????????????..???$260,083

Operating expenses, excluding depreciation??????????..23,827

Depreciation expense?????????????????????.??..89,280

Income tax expense????????????????????????..52,378

Interest expense???????????????????????.????9,082

Loss on disposal of plant assets????????????????..14,400??..??...449,050

Net income???????????????????????????????????..???.??..$296,793

Additional information:

1. New plant assets costing $192,000 were purchased for cash during the year.

2. Old plant assets having an original cost of $110,400 and accumulated depreciation of $93,120 were sold for $2,880 cash.

3. Bonds payable matured and were paid off at face value for cash.

4. A cash dividend of $49,977 was declared and paid during the year.