M Chapter 5 homework x c o D ezto mlheducation.com/hm.tpx Financial statements for Askew industries for 2016 are shown below (in sooo's) 2016 Incom Statement 9,700 Cost of goods sold (6,475) Gross profit 3.225 operating expenses (2,175) Interest expense (270) Tax expense 468 Comparative Balance Sheets Dec. 31 670 570 Cash 670 Accounts receivable Inventory 2.700 2.800 Property, plant, and equipment (net $4.910 $4,510 Liabilities and Shareholders' Equity $1.520 $1.270 Current liabilities 1.750 1,750 Bonds payable Paid-in capital Retained earnings $4,910 $4,510