MartinezLtd. had the following 2020 income statement data

Current Attempt in Progress Martinez Ltd. had the following 2020 income statement data: Sales $205,900 Cost of goods sold 119,300 Gross profit 86,600 Operating expenses (includes depreciation of $23,100) 48,300 Income before income taxes 38,300 Income taxes 15,000 Net income $23,300 The following accounts increased during 2020 by the amounts shown: Accounts Receivable, $16,400; Inventory, $10,500; Accounts Payable (relating to inventory), $13,400; Taxes Payable, $2,000; and Mortgage Payable, $40,700. - Your answer is partially correct.Question 4 of 9