Quantitative Problem: Rosnan Industries' 2013 and 2012 balance sheets and income statements are shown below. Balance Sheets: 2013 2012 $120 275 375 $770 2,000 $2,770 $105 300 350 $755 1,490 $2,245 Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets $150 75 170 $395 450 1,225 700 $2,770 $85 50 195 $330 290 1,225 400 $2,245 Accounts payable Accruals Notes payable Total current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Income Statements: 2013 2012 $2,000 $%1,500 Sales Operating costs excluding depreciation 1,250 1,000