Sales Cost of goods sold Depreciation expense Other operating expenses Interest expense Other gains (losses): Loss on sale of machinery Income before taxes Income taxes expense Net income Additional information: Nike Company Income Statement For Year Ended December 31, 2015 $422,100 $84,180 29,310 35,000 2,098 (138,000) (9,458) 345,312 11,190 (1) There was no gain or loss on the sales of the long-term investments, nor on the bonds retired. Accounts Accounts Debit Credit Debit Credit (2) Old machinery used to manufacture toothpaste was purchased with an original cost of $63,890 was sold for $5,900 cash. Accounts Debit Credit (3) New machinery was purchased for $73,890 cash to replace a broken machine. Accounts Debit Credit (4) Cash dividends of $23,078 were paid. Accounts Debit Credit 7 (5) Additional shares of stock were issued for cash. Accounts Debit Credit