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	$	4,750,000		$	3,850,000
Cost of goods sold		2,930,000			2,070,000
Administrative expenses		870,000			745,000
Selling expenses		430,000			382,000
Interest revenue		157,000			147,000
Interest expense		214,000			214,000
Loss on sale of assets of discontinued component		78,000