MOSS COMPANY Selected Balance Sheet Information December 31, 2019 and 2018 2019 2018 Current assets Cash $ 86,650 $28,800 Accounts receivable 27,000 36,000 Inventory 62,000 54,500 Current liabilities Accounts payable 34,400 27,700 Income taxes payable 2,250 2,600 $ 535,000 339,600 195,400 MOSS COMPANY Income Statement For Year Ended December 31, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 40,000 Other expenses 124,000 Income before taxes Income taxes expense Net income 164,000 31,400 10,600 $ 20,800