Problem 17-8A The following are the financial statements of Nosker Company.

NOSKER COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment 2017 2016 $36,600 $20,100 19,600 20,100 77,400 32,500 30,100 59,700 (29,200) (23,000) Tota Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,700 16,800 8,400 32,500 13,000 48,600 43,500 $129,700 $114,200 7,400 27,300 17,700 Total NOSKER COMPANY Income Statement For the Year Ended December 31, 2017 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $243,000 176,000 67,000 24,600 42,400 ,900 38,500 8,800 2:0,700