The below represents the comparative financial statements of Kamla Corporation.

Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015
			2016		2015
Net sales (all on account)			$1,168,000		$1,006,000
Expenses:
	Cost of goods sold		$832,000		$702,000
	Selling and administrative		205,000		228,000
	Interest expense		12,000		14,000
	Income tax expense		32,600		24,000
	Total expenses		$1,081,600		$968,000
Net income			$86,400		$38,000

Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015
Assets			2016		2015
Current assets:
	Cash		$40,400		$36,800
	Notes receivable		35,800		27,800
	Accounts receivable (net)		171,800		147,600
	Inventory		183,500		136,400
	Total current assets		431,500		348,600
Property, plant, and equipment (net)			849,000		775,000
Total assets			$1,280,500		$1,123,600
Liabilities and Stockholders Equity
Current liabilities:
	Accounts payable		$241,000		$235,000
	Notes payable		47,800		39,200
	Total current liabilities		$288,800		$274,200
Long-term liabilities:
	Bonds payable		233,000		164,600
	Total liabilities		$521,800		$438,800
Stockholders equity:
	Common stock ($5 par)		$300,000		$300,000
	Retained earnings		458,700		384,800
	Total stockholders equity		758,700		$684,800
Total liabilities and stockholders equity			$1,280,500		$1,123,600