Oppong Corporation Income Statement For Years Ended December 31, 2014, 2013, and 2012 2014 2013 2012 Sales Cost of goods sold Gross profit from sales.. Operating expenses... Interest expense Income before taxes. Income taxes Net income $1,730,500 $1,621,400 $1,442,600 568,100 499,400 556,600 1,162,400 1,122,000 886,000 539,800 500,000 458,700 Income from operations... 622,600 622,000 427,300 3,500 4,200 5,200 619,100 617,800 422,100 152,300 148,700 52,600 $466,800 $469,100 $369,500 Oppong Corporation Balance Sheet December 31, 2014, 2013, and 2012 Assets 2014 2013 2012 $46,700 $40,900 $37,000 24,000 21,000 23,000 49,300 43,600 47,700 71,500 64,400 62,100 3,100 3,700 4,600 7,500 9,500 8,500 Cash Short-term investments. Accounts receivable, net... Merchandise inventory... Prepaid expenses. Notes receivable, due in 2017 Plant assets, net Total assets Liabilities and Equity Accounts payable. Salaries payable Income taxes payable... 359,000 311,000 287,000 $561,100 $494,100 $469,900 $40,600 $42,100 $39,300 Long-term note payable secured by mortgage on plant assets Share capital, 200,000 shares. Retained earnings... Total liabilities and equity... 4,000 28,450 32,900 29,350 113,000 116,000 99,000 190,000 190,000 230,000 185,050 108,400 67,050 $561,100 $494,100 $469,900 4,700 5,200 Ratio 2014 2013 Number of days of sales in inventory... 0.13 Analysis (select one)