Question 4 of 5 > Bonita Inc. a greeting card company had the following statements prepared as of December 31, 2020. BONITA INC COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $6,000 $7,000 Accounts receivable 62.600 50,000 Short-term debt investments Lavallable-for-sale 35,200 1100 Inventory 39.600 59,700 Prepaid rent 5,000 4,000 Equipment 152.800 128,900 Accumulated depreciation-equipment (54.900) 24.000) Copyrights 45.900 41.300 Total assets $312.200 $293,300 Accounts payable $45,900 $39.900 Income tax payable 4,000 6,000 Salaries and wages payable 8.500 3900 Short-term loans payable 1.000 10,000 Long-term loans payable 60.500 68.500 Common stock, $10 par 100.000 100.000 Contributed capital, common stock 30.000 30,000 Retained earnings 55.700 35,000 Total liabilities & stockholders' equity $312.200 1293300 BONITA INC INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020 Sales revenue $337.475 Cost of goods sold 175.300 Gross profit 362175 Operating expenses 119.500 Operating income 12475 Interoper $11.300 Gain on sale of equipment 2000 9.300 Income before tas 31375 Income tax experse LA75 Net income $26.700