Problem 13-7A The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets 31 sets. 2017 2016 Cash 34,000 19,100 Accounts receivable 32,900 18,750 20,400 Inventory 26,350 59,050 Equipment 77,600 Accumulated depreciation equipment 30,000 23,150 $122,300 $112,700 Total Liabilities and Stockholders' Equity Accounts payable 28,050 16,400 Income taxes payable 7,050 8,100 Bonds payable 27,200 32,900 13,150 Common stock 18,900 Retained earnings 41,100 42,150 $122,300 $112,700 Total NOSKER COMPANY Income Statement For the Year Ended December 31, 2017 Sales revenue $241,150 Cost of goods sold 176,000 Gross profit 65,150 Operating expenses 24,300 Income from operations 40,850 Interest expense 3,600 Income before income taxes 37,250 Income tax expense 8,300 28,950 Net income Additional data