of liquidity, Solvency, and Profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8. Sales Cost of goods sold Gross profit Selling expenses AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7 Administrative expenses Week 11 Homework (CH. 9) assignment take frame Total operng expenses Operating income Other revenue and expense: Other revenue Other expense (interest) Income before income tax Search 20Y8 $10,000,000 (5,350,000) $ 4,650,000 $ (2,000,000) (1,500,000) (3,500,000) $ 1,150,000 150,000 (170,000) $ 1,130,000 hp 20Y7 $ 9,400,000 (4,950,000) $ 4,450,000 $(1,880,000) (1,410,000) $(3,290,000) $ 1,160,000 a 140,000 (150,000) $1,150,000