MONTGOMERY INC. Comparative Balance Sheets December 31, 2016 and 2015 2016 2015 Assets 30,800 31,000 Cash 10,900 Accounts receivable, net 8.900 79,800 63,000 44,200 37,300 (19,900) (13,800) Inventory Equipment Accum. depreciation Equipment Total assets 143,800 $128,400 Liabilities and Equity 21,200 22,900 Accounts payable 400 Salaries payable 500 102,400 94,100 Common stock, no par value Retained earnings 19,800 10,900 Total liabilities and equity 143,800 $128,400 MONTGOMERY INC. Income Statement For Year Ended December 31, 2016 38,500 Sales (16,000) Cost of goods sold 22,500 Gross profit Operating expenses 6,100 Depreciation expense Other expenses 4.700 Total operating expense 10,800 11,700 Income before taxes Income tax expense 2.800 Net income 8.900