Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the year, $(1)$ all sales are credit sales, $(2)$ all credits to Accounts Receivable reflect cash receipts from customers, $(3)$ all purchases of inventory are on credit, and $(4)$ all debits to Accounts Payable reflect cash payments for inventory.

$\backslash$table$[[\{$

$\backslash$table$[[,$FORTEN COMPANY$],[,$Income Statement$],[$Sales $,$ For Current Year Ended December $31,]]\}],[],[$Cost of goods sold,,$287,000],[$Gross profit,$-,305,500],[$Operating expenses $($excluding depreciation$),$$$134,400,],[$Depreciation expense,$22,750,157,150],[$Other gains $($losses$),,],[$Loss on sale of equipment,,$(7,125)$