Current Year Preceding Year Balance Sheet: Cash Short-term Investments $ 16,000 19,000 60,000 Net Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities $ 26,000 28,000 92,000 74.000 6,000 78,000 17,000 226,000 190,000 136.000 82 000 Income Statement: $ 476,000 Net Credit Sales Cost of Goods Sold 312,000 Current Year Preceding Year Balance Sheet: Cash Short-term Investments $ 16,000 19,000 60,000 Net Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities $ 26,000 28,000 92,000 74.000 6,000 78,000 17,000 226,000 190,000 136.000 82 000 Income Statement: $ 476,000 Net Credit Sales Cost of Goods Sold 312,000