Ratio Analysis Byers Company presents the following condensed income statement for 2019 and condensed December 31, 2019, balance sheet: Sales (net) Income Statement $267,000 Less: Cost of goods sold $160,000 Operating expenses 62,000 Interest expense Income taxes Total expenses Net income 11,000 10,000 (243,000) $24,000 Balance Sheet Cash $10,000 Current liabilities Receivables (net) 22,000 Bonds payable, 10% $40,000 110,000 Inventory 56,000 Common stock, $10 par 100,000 Long-term investments 30,000 Additional paid-in capital 95,000 Property and equipment (net). 282,000 Retained earnings 55,000 Total Assets $400,000 Total Liabilities and Shareholders' Equity $400,000