The comparative balance sheets and income statement for the Henning Company for 2022 and 2021 are presented below: Balance Sheet as of December 31, ________2022________ ________2021______ Cash 58,000 40,000 Accounts receivable 10,000 14,000 Inventory 32,100 29,000 PPE, at cost 200,000 190,000 Less accumulated depreciation (45,000) 155,000 (40,000) 150,000 Right of Use Asset 33,120 0 Deferred tax assets 22,400 25,000 Total Assets 310,620 258,000 Accounts payable 28,500 32,000 Income taxes payable 4,000 3,800 Lease Liability 34,008 0 Accrued pension cost 72,900 64,000 Bonds payable 100,000 100,000 Discount on bonds payable (7,810) 92,190 (8,620) 91,380 Common stock 11,500 11,000 Additional paid in capital 23,500 20,000 Retained earnings 44,022 35,820 Total liabilities and stockholders' equity 310,620 258,000 Income Statement for the year ended December 31, 2022 Revenue 150,000 Cost of goods sold (70,000) Wage expense (26,000) Amortization expense Depreciation expense (3,680) (13,000) Pension expense (13,000) Interest expense (9,518) Gain on disposal of machinery 1,100 Income before tax 15,902 Income tax expense (5,200) Net income 10,702