nment Problem 17-8A The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 2017 2016 Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment $20,100 19,600 20,100 77,400 $36,600 32,500 30,100 59,700 (29.200) (23,000) Total $129,700 $114,200 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28.70016,800 8,400 32,500 13,000 43.500 $129.700 $114,200 7,400 27.300 17.700 48.600 Total NOSKER COMPANY Income Statement For the Year Ended December 31, 2017 Sales revenue 5243.000 31, 2017 Cost of goods sold 176,000 67.000 24,600 42,400 3.900 Interest expense Income before income taxes 8,800 29.700 3. All depreciation expense, $15,000, is in the operating expenses. 2. All operating expenses except for depreciation were paid in cash