Net income for 2019 Statement of financial position at 31/12/2019 $ 2019 2018 change Sales 52000 Cash &cash equivalent 1000 2800 (1800) -cost of sales (22000) Accounts receivable 52000 66000 Gross profit 30000 inventory 39000 32000 -operating expenses (18800) lands 83000 44000 =EBIT 11200 buildings 196000 176000 -interest expense (340) Accum. depreciation-bul. (66000) (60000) -income before tax 10860 Total Assets 305000 260800 -tax expense (960) Accounts payable 56000 41300 Net income 9900 Accrued salaries 3300 1600 75000 100000 Bonds (10%) Ordinary shares capital 150000 100000 Retained earnings 20700 17900 Total liab. & owners' equity 305000 260800