Drill Problem 13-7 [LU 13-2 (2)] 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.) LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2017 and 2018 Increase (Decrease) Amount Percent 2018 2017 18,300 S s 23,400 900 100 s S 22,500 10.900 18,200 7,400 10.800 s 11,600 $ s S 820 Gross sales Sales returns and allowances Net sales Cost of merchandise (goods) sold Gross profit Operating expenses Depreciation Selling and administrative Research Miscellaneous Total operating expenses Income before interest and taxes Interest expense Income before taxes 1,140 5,500 990 4,200 720 800 520 s S 8,260 S 8,430 3,170 1.000 2,170 4,540 720 S S 3,820 Provision for taxes 868 1,302 1,528 2.292 Net income s S LOGIC COMPANY Comparative Balance Sheet December 31, 2017 and 2018 2018 Amount Percent 2017 Amount Percent Assets S S 8,300 11,400 15,800 11,800 13,300 Current assets: Cash Accounts receivable Merchandise inventory Prepaid expenses Total current assets Plant and equipment: Building (net) Land 7.800 23,300 9,300 S 58,300 S 42,700 $ 13,800 $ 12,800 10,300 8,300 18,600 61,300 S S Total plant and equipment Total assets Liabilities 26,600 84,900 $ $ Current liabilities: S S 6,300 12,300 6,300 4,300 10.600 S 18,600 S Accounts payable Salaries payable Total current liabilities Long-term liabilities: Mortgage note payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 21,300 39,900 19,800 30,400 S S S S 20,300 24,700 45,000 84,900 20,300 10,600 30.900 61,300 S $ $ S