Joyner Company's income statement for Year 2 follows Sales Cost of goods sold $717,000 173,000 Gross margin Sel 544,000 217,000 ling and administrative expenses Net operating income Gain on sale of equipment 327,000 7,000 Income before taxes Income taxes 334,000 100,200 Net income $ 233,800 Its balance sheet amounts at the end of Years 1 and 2 are as follows ear ear Assets Cash Accounts receivable Inventory Prepaid expenses $ 181,200 $ 99,700 261,000 115,000 318,000 283,000 19,000 9,500 Total current assets 769,700 516,700 Property, plant, and equipment 620,000 506,000 165,600 130,500 Less accumulated depreciation Net property, plant, and equipment Loan to Hymans Company 454,400 375,500 45,000 Total assets $1,269,100 $ 892,200