"percent" answers to the nearest hundredth percent. LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2022 and 2023 Increase (Decrease) 2023 2022 Amount Gross sales $ 19,000 $ 15,000 $ 4,000 Sales returns and allowances 1,000 100 900 Net sales $ 18,000 $ 14,900 $ 3,100 Cost of merchandise (goods) sold 12,000 9,000 3,000 Gross profit $ 6,000 $ 5,900 $ 100 Operating expenses Depreciation $ 17 Selling and administrative 700 $ 600 $ 100 2,200 2,000 200 Research 550 500 50 Miscellaneous 360 300 60 Total operating expenses $ 3,810 $ 3,400 $ 410 Income before interest and taxes $ 2,190 $ 2,500 $ 310 Interest expense 560 500 60 Income before taxes $ 1,630 $ 2,000 $ 370 Provision for taxes 640 800 160 Net income $ 990 $ 1,200 $ 210 Percent Current asSUIS Cash $ 12,000 $ 9,000 Accounts receivable 16,500 12,500 Merchandise inventory 8,500 14,000 Prepaid expenses 24,000 10,000 Total current assets $ 61,000 S 45,500 Plant and equipment: Building (net) $ 14,500 $ 11,000 Land 13,500 9,000 Total plant and equipment $ 28,000 $ 20,000 Total assets $ 89,000 $ 65,500 Liabilities Current liabilities Accounts payable $ 13,000 $ 7,000 Salaries payable 7,000 5,000 Total current liabilities $ 20,000 $ 12,000 Long-term liabilities: Mortgage note payable 22,000 20,500 Total liabilities $ 42,000 $ 32,500 Stockholders' Equity Common stock $ 21,000 $ 21,000 Retained earnings 26,000 12,000 Total stockholders' equity $ 47,000 $ 33,000 Total liabilities and stockholders' equity $ 89,000 $ 65,500