MOSS COMPANY Selected Balance Sheet Information December 31, 2017 and 2016. 2017 2016 Current assets Cash $88,150 $30,300 Accounts receivable 28,500 39,000 Inventory 63,500 54,800 Current liabilities Accounts payable 37,400 29,200 Income taxes payable 2,400 2,900 MOSS COMPANY Income Statement For Year Ended December 31, 2017 Sales $ 550,000 Cost of goods sold Gross profit 345,600 204,400 Operating expenses Depreciation expense $ 43,000 Other expenses 125,500 168,500 Income before taxes Income taxes expense Net income 35,900 12,900 $ 23,000