Condensed financial data of Tamarisk, Inc. follow Tamarisk, Inc. Comparative Balance Sheets December 31 Assets 2017 2016 $172,912 187,892 240,750 60,776 295,320 609,900 103,576 81,320 220,099 55,640 233,260 518,950 Cash Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total (107,000) (111,280) $1,460,550 $1,101,565 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $ 144,022 44,940 312,440 374,500 225,663 $1,460,550 $1,101,565 218,280 35,310 235,400 470,800 500,760 Tamarisk, Inc. Income Statement Data For the Year Ended December 31, 2017 Sales revenue $831,304 Less Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets $289,884 26,557 99,510 58,379 10,122 16,050 500,502 Net income 330,802