Selected comparative financial statements of Bennington Company follow. BENNINGTON COMPANY Comparative Income Statements For Years Ended December 31 , 201 2, 201 1 , and 201 0 201 2 201 1 201 0 Sales . . . . . . . . . . . . . . . . . . . . . . . . . $444,000 $340,000 $236,000 Cost of goods sold . . . . . . . . . . . . . 267,288 21 2,500 1 51 ,040 Gross profit . . . . . . . . . . . . . . . . . . . 1 76,71 2 1 27,500 84,960 Selling expenses . . . . . . . . . . . . . . . 62,694 46,920 31 ,1 52 Administrative expenses . . . . . . . . . 40,1 37 29,920 1 9,470 Total expenses . . . . . . . . . . . . . . . . 1 02,831 76,840 50,622 Income before taxes . . . . . . . . . . . . 73,881 50,660 34,338 Income taxes . . . . . . . . . . . . . . . . . . 1 3,764 1 0,370 6,962 Net income . . . . . . . . . . . . . . . . . . . $ 60,1 1 7 $ 40,290 $ 27,376 BENNINGTON COMPANY Comparative Balance Sheets December 31 , 201 2, 201 1 , and 201 0 201 2 201 1 201 0 Assets Current assets . . . . . . . . . . . . . . . . . . $ 48,480 $ 37,924 $ 50,648 Long-term investments . . . . . . . . . . . 0 500 3,720 Plant assets, net . . . . . . . . . . . . . . . . . 90,000 96,000 57,000 Total assets . . . . . . . . . . . . . . . . . . . . $1 38,480 $1 34,424 $1 1 1 ,368 Liabilities and Equity Current liabilities . . . . . . . . . . . . . . . $ 20,200 $ 1 9,960 $ 1 9,480 Common stock . . . . . . . . . . . . . . . . . 72,000 72,000 54,000 Other paid-in capital . . . . . . . . . . . . . 9,000 9,000 6,000 Retained earnings . . . . . . . . . . . . . . . 37,280 33,464 31 ,888 Total liabilities and equity . . . . . . . . . $1 38,480 $1 34,424 $1 1 1 ,368 Required Analysis Component 4. Comment on any significant relations revealed by the ratios and percents computed