Financial data for Redstone Company for last year appear below of Ending Cash Accounts receivable nventory Plant and equipment (net) Investment in Bailsam Company Land $ 308,000 246.245 164,000 131,000 325,000 460,000 243,000 300,000 453,000 312,000 300,000 Total assets $1,767,000 $1,731,245 Liabilities and owners' equity: Accounts payable Long-lerm debt Owners' equity S 168,000 145,000 809,000 809,000 7 7 245 1,767000 $1,731.245 90,000 Total labilises and owners' equity Redstone Company Income statement Sales Less operating expenses $ 1,780,000 1,450,700 329,300 Net operating income Less interest and taxes Interest expense 93800 115,255 209,055 Tax expense Net income 120.245