Joyner Company's income statement for Year 2 follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income Capture Forme libre $ 713,000 246,000 467,000 150,400 316,600 9,000 325,600 130,240 $ 195,360 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Loan to Hymans Company Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities $ 149,860 256,000 319,000 $ 93,600 115,000 274,000 9,000 18,000 733,860 500,600 622,000 510,000 165,700 131,600 456,300 378,400 47,000 $1,237,160 $ 311,000 48.000 $ 879,000 $ 251,000 57.000