Joyner Company's income statement for Year 2 follows: Joyner Company's ncone Statement 16 points Sales Cost of goods sold Gross margin selling and adninistrative expenses Net operating income Nonoperating items: $787,008 485,000 382,000 216,000 166,000 eBook Ask Print Gain on sale of equipment Income before taxes Income taxes Net income 8,000 174,000 52, 200 $121,800 its balance sheet amounts at the end of Years 1 and 2 are as follows: Joyner Company' s Balance Sheet Year 2Year 1 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment $ 211,800 $172,400 266,000 137,000 319,000 277,000 8,00016,00e 804,800 602,400 488,000 397,0ee ic Halt Education K Prev17 of 17