Great Lakes Manufacturing Inc. comparative Statement of Financial Position at December 31 in (000) 's 20X4 20x3 Cash $ 5,100 $ 4,800 Accounts Receivable $ 9,010 $ 6,100 Inventory $ 10,400 $ 14,000 Prepaid Expenses $ 1,950 $ 1,020 Equipment $ 58,500 $ 59,900 Accumulated Depreciation equipment $(33,100) $(32,000) Total Assets $ 51,860 $ 53,820 Account Payable Interest Payable Income taxes payable Dividends Payable Long-term Notes Payable Common shares Retained Earnings Total Liabilities & Shareholders' Equity $ 7,000 $ 350 $ 650 $ 2,400 $ 17,500 $ 22,000 $ 1,960 $ 51,860 $ 11,400 $ 110 $ 500 $ 3,200 $ 17,000 $ 20,000 $ 1,610 $ 53,820 Great Lakes Manufacturing Inc. Income Statement Year Ended December 31, 20x4 in (000)'s Sale $130,000 Cost of goods sold $ 97,000 Gross Profit $ 33,000 Operating Expenses $30,000 Gain on Sale of equipment $(1,000) $ 29,000 Profit from Operations $ 4,000 Other expenses Interest Expense $ 200 Profit before Income Tax $ 3,800 Income Tax Expense $ 1,550 Profit $ 2,250 Additional Information: . Operating expenses include depreciation expense of $3,500,000 Accounts Payable related to the purchase of inventory Equipment that cost $3,900,000 was sold at a gain of $1,000,000 New equipment was purchased during the year for $2,500,000 Dividends declared and paid in 20X4 totaled $1,900,000 . Common shares were sold for $2,000,000 cash Interest payable in 20x4 was $240,000 greater than interest payable in 20x3 Total return on sales at December 20X3 was: Multiple Choice Equal or above 3% Not enough data provided to calculate it 0% 1% 2%