Net sales Sunland Company Income Statement For the Year Ended December 31, 2022 Cost of goods sold Selling and administrative expenses Interest expense Income tax expense Net income Sunland Company Assets Current assets Cash Debt investments Balance Sheet December 31, 2022 Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities $2,238,000 1,014,000 908,000 80,000 74,000 $ 162,000 $ 56,400 81,000 169,400 184,600 491,400 575,000 $ 1,066,400 $ 159,000 30,000 189,000