Refer to the following accounting statements. Calculate the Operating Profitability of the year 2019.

	2020	2019
Cash	$60,000	$90,000
S-T invest.	150,000	150,000
AR	60,000	90,000
Inventories	180,000	150,000
Total CA	450,000	480,000
Gross FA	420,000	420,000
Less: Depr.	40,000	30,000
Net FA	380,000	390,000
Total assets	$830,000	$870,000
	2020	2019
Accts. payable	$90,000	$96,000
Notes payable	90,000	81,000
Accruals	150,000	198,000
Total CL	330,000	375,000
Long-term debt	240,000	250,000
Common stock	140,000	140,000
Ret. earnings	120,000	105,000
Total equity	260,000	245,000
Total L&E	$830,000	$870,000
	2020	2019
Sales	$166,320	$158,344
COGS	38,640	49,800
Other expenses	34,000	29,000
Deprec.	10,000	10,000
Tot. op. costs	82,640	88,800
EBIT	83,680	69,544
Int. expense	1,540	1,760
Pre-tax earnings	82,140	67,784
Taxes (40%)	32,856	27,114
Net income	$49,284	$40,670