M. Lieberthal Inc. Income Statement For years ended December 31, 2017 and 2018 M. Lieberthal Inc. Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 Change 2018 2017 Current assets Sales (all on credit Cost of goods sold Gross margin Depreciation expense Other operating expenses Total operating expenses $711000 $675,000 (371,000) (304,000) 340,000 371,000 Cash $75,900 $35,700 $40,200 Accounts receivable (net) 40.000 38,000 8,000 50,000 48,000 2,000 Inventory Prepaid expenses 1,900 4,200 2,300 38,000 53,000 Other current assets 2690 4100 1410 153,000 127000 Total current assets 176,490 130,000 46,490 191,000 180,000 Operating income 149,000 191000 Long-term Investments 39,000 62,000 27,000 Other income (expenses) Interest expense Plant assets 314,000 263,000 51000 Less: accumulated (5100) (3,800) (30,400) (53,000) 27,400 depreciation Gain on sale of 7,000 4,900 Total plant assets 233.600 210.000 23600 investments Loss on sale of plant (4.2001 (5.000) Total assets 499,090 402,000 97090 assets Total other income (expenses) (10,300) (3.900) Income before income taxes 146,700 187300 Current Febilities Accounts payable $31,300 $32,000 $-700 Income taxes expense (44.010) (6.330) Accrued liabilities 3,600 3,000 600 Net income $102,090 $130,970 Income taxes payable 3.500 13.000 -9.500 Totel current liabilities 38,400 48,000 9,600 M. Lieberthal Inc. Statement of Retained Earnings For the year ended December 31, 2018 Long term liabilities Notes Payable 256,000 190,000 66,000 Total liabilities 294,400 238,000 56,400 2018 Ret eamings, Jan. 1 $26,000 2017 $0 Stockholders' equity Add: net income 102.690 130.970 Common stock, $5 per 110,000 110,000 o volue Deduct Dividends (62.000 104.970) Increase in retained Additional paid-in capital 28,000 28,000 0 eamings 40.690 26,000 Retained earnings 66690 25.000 40.090 Ret earnings. Dec. 31 $00.090 $20,000 Total stockholders' equity 204,690 164,000 40,690 Total liabilities and stockholders' equity $499.099 $402,000 $97090 Other information Shares of common stock outstanding Eamings per share 22.000 22.000 $4.07 $5.95 Dividends per share $282 5477 Market price per share $10 common stock $12 Cash on Ope Har Alys Har Analysis Vertic Alytic Analys The St S Tal Sheet Ratios Requirement Prepare the canh nows from sperations seion of M. Liebertal 2018 lament indivit method terms to be subtracted as negative sales M.Liberthal Inc Cash Fices from Operating Activas-indract Mathod For Year Ended December 21, 2018 Cath Row bs using the