Income statement data: Sales (all on credit) Cost of goods sold Gross profit on sales Operating expenses Operating income Interest expense Income before taxes Income taxes Net income $1,075,000 575.000 500,000 402,000 98,000 20,400 77,600 74,000 3,600 Balance sheet data: Cash Accounts receivable Inventory Prepaid Expenses Total current assets $ 40,000 120,000 70,000 24.000 $ 254,000 708,900 $ 962,900 $ 91,200 19,700 204.000 $ 314,900 480,000 168,000 $ 962,900 Total plant assets Total assets Accounts payable Interest payable Long-term liabilities Total liabilities Common stock, $10 par Retained earnings Total liabilities and equity