Presented here are the financial statements of Skysong, Company. Skysong, Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $37,900 $20,300 Accounts receivable 32,200 18,800 Inventory 30,600 20,500 Property, plant, and equipment 59,400 77,100 Accumulated depreciation (29,300) (23,200) Total $130,800 $113,500 Liabilities and Stockholders' Equity Accounts payable Income taxes payable: $28,300 $16,600 7.200 8,500 Income taxes payable 7,200 8,500 Bonds payable 27,500 33,900 Common stock 18,500 14,700 Retained earnings 49,300 39,800 Total $130,800 $113,500 Skysong, Company Ancome Statement For the Year Ended December 31, 2022 Sales revenue $241,200 Cost of goods sold 175,900 Gross profit 65,300 Selling expenses $17,250 Administrative expenses 5,750 23,000 Income from operations 42,300 Interest expense 4,000 Income before income taxes 38,300