MONTGOMERY INCORPORATED Comparative Balance Sheets At December 31 Current Year Prior Year Assets Cash Accounts receivable, net $ 54,100 13,400 $ 54,200 Inventory Total current assets Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable Salaries payable Total current liabilities Equity Common stock, no par value Retained earnings Total liabilities and equity MONTGOMERY INCORPORATED Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Salaries expense Depreciation expense Income before taxes Income tax expense Net income) $ 60,900 (25,300) 35,600 7,500 9,400 18,700 4,500 $ 14,200 120,100 187,600 66,500 (30,100) $ 224,000 $ 32,000 600 32,600 159,800 31,600 $ 224,000 16,400 94,800 165,400 56,100 (20,700) $ 200,800 $ 34,400 800 35,200 148,200 17,400 $ 200,800