ratio analysis, and d nancial position and operatin Condensed balance sheet and income statement data for Jergan Corporation are presented here. JERGAN CORPORATION Balance Sheet December 31 S18,000 S30,000 50,000 Accounts receivable (net) Other current assets 45,000 95,000 55,000 500,000 $725,000 64,000 45,000 358,000 S533,000 Plant and equipment (net) 370,000 S600,000 Current liabilities Long-term debt Common stock, S10 par Retained Earnings $80,000 85,000 310,000 125,000 S600,000 $85,000 145,000 50,000 175,000 $725,000 113,000 S533,000 JERGAN CORPORATION Income Statement For the Year Ended December 31 Sales revenue Less: Sales return and allowances Net sales Cost of goods sold Gross proft Operating expenses (including income taxes) Net income 2016 S600,000 30,000 570,000 350,000 S740,000 425,000 275,000 180,000 95.000 150,000 70,000 ratio analysis, and d nancial position and operatin Condensed balance sheet and income statement data for Jergan Corporation are presented here. JERGAN CORPORATION Balance Sheet December 31 S18,000 S30,000 50,000 Accounts receivable (net) Other current assets 45,000 95,000 55,000 500,000 $725,000 64,000 45,000 358,000 S533,000 Plant and equipment (net) 370,000 S600,000 Current liabilities Long-term debt Common stock, S10 par Retained Earnings $80,000 85,000 310,000 125,000 S600,000 $85,000 145,000 50,000 175,000 $725,000 113,000 S533,000 JERGAN CORPORATION Income Statement For the Year Ended December 31 Sales revenue Less: Sales return and allowances Net sales Cost of goods sold Gross proft Operating expenses (including income taxes) Net income 2016 S600,000 30,000 570,000 350,000 S740,000 425,000 275,000 180,000 95.000 150,000 70,000