Saved Help Save Instant Brake Inc.'s comparative balance sheet information at December 31, 2020 and 2019, and its income statement for the year ended December 31, 2020, are as follows: $877,000 572,000 $ 305,000 Instant Brake Inc. Income Statement December 31, 2020 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Operating Profit Loss on sale of equipment Investment income Profit before taxes Income taxes Profit $132,680 41, 240 173,920 131,080 11,580 18,520 138,020 16,000 $122,020 Cash Cash equivalents Accounts receivable Inventory Investment Land Instant Brake Inc. Balance Sheet Information December 31 2020 2019 $ 44,000 $ 24,160 24,280 8,800 87,520 33,440 113,440 79,520 24,280 76,000 76,000 Net Change $ 19,840 15,480 54,080 33,920 (24,280)