The comparative financial statements of Taylor Corporation for the years ended December 31, 2018 and 2017 are shown below: Additionai information: Taylor Corporation sold a Property; of $207,900 for $236,250 during t 2018 2018 2017 Sales 12,545,500 Cash 292,950 236,250 Cost of Goods Sold {11,907,000} Accounts receivable 217,350 255,150 Gross Margin 638,500 Inventory 831,600 1,152,900 Gain on disposal of capital asset 28,350 Property, Plant and equipment 1,871,100 1,663,200 Depreciation expense (283,500} Accumulated depreciation (774,900) {850,500} Operating expenses (122,530} Total assets 2,433,100 2,457,000 Income tax expense (90,720} Net Income 170,100 Accounts Payable 236,250 340,200 Bonds payable, due 2020 378,000 396,900 Preferred shares 189,000 245,700 Common shares 945,000 850,500 Retained earnings 689,850 623,700 Total Liabilities and Equity 2,433,100 2,457,000 Plant and Equipment item with a net book value e year