I need assistance with the following problem in Accounting 2302.

Problem 14-6A The comparative statements of Corbin Company are presented below. CORBIN COMPANY Income Statement For the Years Ended December 31 2017 2016 $600,500 Net sales (all on account) $520,500 Expenses Cost of goods sold 414,300 354,200 Selling and administrative 119,000 113,900 7,400 Interest expense 6,500 Income tax expense 14,500 17,100 Total expenses 557,800 489,100 Net income 42,700 31,400 CORBIN COMPANY Balance Sheets December 31 ssets 2017 2016 Cur ent assets Cash 20,500 17,200 Short-term investments 17,400 14,900 Accounts receivable (net) 86,900 75,000 69,000 Inventory 90,200 Total cument assets. 215,000 176,100 Plant assets (net) 422,300 382,300 $558,400 Total assets $637,300 abilities and Stockholders' Equity Current liabilities Accounts payable $122,400 $110,200 Income taxes payable 22,400 19,700 441800 129.900 Total cument liabilities Long-term liabilities Bonds payable 120,800 79,700 265,600 209,600 abilities otal Stockholders' equity 148,800 Common stock ($5 par) 148,800 Retained earnings 222,900 200,000 Total stockholders' equity 371,700 348,800 Total liabilities and stockholders' equity $637,300 $558,400 Additional data: The common stock recently sold at $19.32 per share