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	$	4,500,000		$	3,600,000
Cost of goods sold		2,880,000			2,020,000
Administrative expenses		820,000			695,000
Selling expenses		380,000			332,000
Interest revenue		152,000			142,000
Interest expense		204,000			204,000
Loss on sale of assets of discontinued component		58,000