MONTGOMERY INC Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 Assets Cash Accounts receivable, net Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets 53,100 53,400 22,700 164,000 131,30e 235,400 207,480 90,80077,600 18,300 (41,000) (28,600) $285,200 $256,400 Liabilities and Equity Accounts payable Salaries payable Total current liabilities Equity Common stock, no par value Retained earnings Total liabilities and equity $ 43,500 47,600 800 44,200 48,400 700 190,600 32498 17,488 $285,200 $256,400 MONTGOMERY INC. Income Statement For Year Ended December 31, 2018 Sales Cost of goods sold Gross profit Operating expenses 65,300 (27,100) 38,280 Depreciation expense $12,400 8,100 Other expenses Total operating expense Income before taxes Income tax expense Net income 20,500 17,700 2,700 s 15,000