ensive Problem 2 - St of Cash Flows and Ratios Al... T. Green Inc. Income Statement For years ended December 31, 2017 and 2018 Saved T. Green Inc. Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 Change 2018 Sales (all on credit) Cost of goods sold Gross margin 2017 $817,000 $776,000 (399,000) (327,000) 418,000 449,000 Current assets: Cash $156,850 $102,300 $54,550 Accounts receivable (net) Inventory 46,000 53,000 38,000 50,000 3,000 8,000 Prepaid expenses 2,200 4,900 -2,700 33 Depreciation expense Other operating 38,000 53,000 174,000 144,000 Other current assets 3,140 4,800 1,660 Total current assets 261,190 200,000 61,190 expenses Total operating 212,000 197,000 expenses S Operating income 206,000 252,000 Long-term Investments 89,000 62,000 27,000 Other income Plant assets 314,000 263,000 51,000 (expenses) Less: accumulated Interest expense (5,300) (3,900) (80,400) (53,000) 27,400 depreciation Gain on sale of 7,900 5,500 Total plant assets 233,600 210,000 23,600 investments Loss on sale of plant assets Total other income (expenses) (4,900) (5,900) (18,100) (4,300) Total assets 583,790 472,000 111,790 Income before income taxes Income taxes expense Net income 203,700 247,700 (61,110) (74,310) $142,590 $173,390 Current liabilities: Accounts payable $33,300 $34,000 $-700 Accrued liabilities 6,000 5,000 1,000 Income taxes payable 4,900 18,000 -13,100 Total current liabilities 44,200 57,000 -12,800