Selected information about income statement accounts for the Reed Company is presented below (the company's fiscal year ends on December 31):

	2013			2012
Sales	$	5,250,000		$	4,350,000
Cost of goods sold		3,030,000			2,170,000
Administrative expenses		970,000			845,000
Selling expenses		530,000			482,000
Interest revenue		167,000			157,000
Interest expense		234,000			234,000
Loss on sale of assets of discontinued component		118,000