gagement Exerc eBook Video Calculator Analysis of Liquidity Based on the comparative income statement and balance sheet of Cowan Kitchen Counters, Inc., that follow: Cowan Kitchen Counters, Inc. Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 20-2 20-1 Net Sales (all on account) Cost of goods sold Gross proft Operating expenses Other expense (interest) Income tax expense $2,586,000 1,878,900 $707,100 313,800 24,200 178,900 $190,200 $2,161,700 1,617,600 $544,100 211,800 24,200 104,800 $203,300 Net income Cowan Kitchen Counters, Inc. Comparative Balance Sheet December 31, 20-2 and 20-1 20-2 20-1 $258,900 $241,200 Cash Government notes Accounts receivable (net) 250,900 250,900 909,600 797,300 Previous Check My Work 1 more Check My Work uses iemaining 1 more Check My Work uses remaining ms