Gladys Jeske Company has these comparative balance sheet data. Gladys Jeske Company Balance Sheets December 31 Cash Receivables (net) Inventories Plant Assets (net) 2019 $ 20,000 65,000 60,000 200,000 2018 $ 30,000 60,000 50,000 180,000 $ 345,000 $ 320,000 Accounts Payable Mortgage payable (15%) Common stock, $10 par Retained Earnings $ 50,000 100,000 140,000 55,000 $ 60,000 100,000 120,000 40,000 $ 345,000 $ 320,000 Additional information: 1. 2. 3. 4. Net income was $25,000 Sales on account were $420,000. Sales returns and allowances amounted to $20,000. Cost of goods sold was $198,000 Net cash provided by operating activities was $44,000