NOSKER COMPANY Balance Sheets December 31 Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation 2017 2016 $34,600 $19,900 19,050 20,150 77,500 32,450 26,400 59,000 -equipment (29,450)(23,25 Total $123,000 $113,350 Liabilities and Stockholders' Equit Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,500 $16,050 8,300 33,150 14,050 41,800 $123,000 $113,350 7,250 27,200 17,400 42,650 Total NOSKER COMPANY For the Year Ended December 31, 2017 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $241,750 176,950 64,800 24,200 40,600 2,250 38,350 8,600 $29,750