Presented below are the financial statements of Concord Corporation. Concord Corporation Comparative Balance Sheets December 31 Assets 2022 2021 Cash $31,500 $ 18,000 Accounts receivable 18,000 12,600 D Inventory 25,200 18,000 Property, plant, and equipment 54,000 70,200 Accumulated depreciation (28,800 ) (21,600 ) Total $99.900 $97,200 Liabilities and Stockholders' Equity Accounts payable $17,100 $13,500 Income taxes payable 6,300 7,200 Bonds payable 15,300 29,700 Common stock 16,200 12,600 Retained earnings 45,000 34,200 Total $99,900 $97,200 Concord Corporation Income Statement For the Year Ended December 31, 2022 Sales revenue $217,800 Concord Corporation Income Statement For the Year Ended December 31, 2022 Sales revenue $217,800 Cost of goods sold 157,500 Gross profit 60,300 Selling expenses $16,200 Administrative expenses 5,400 21,600 Income from operations 38.700 Interest expense 2,700 Income before income taxes 36,000 Income tax expense 7,200 $28.800 Net income Additional data: 1. Depreciation expense was $15,750. 2. Dividends declared and paid were $18,000. 3. During the year equipment was sold for $7,650 cash. This equipment cost $16.200 originally and had accumulated depreciation of $8,550 at the time of sale. Question 1 of 1 or in parenthesis eg. (15,000) Concord Corporation Statement of Cash Flows Adjustments to reconcile net income to 4 /20 I eTextbook and Media Attempts of 3 used Submit