The comparative statements of Cullumber Company are presented here. CULLUMBER COMPANY Income Statements For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses $1,896,240 $1,756,200 1,011,700 744,500 484,700 259,800 1,064,240 832,000 505,700 326,300 Interest expense Income before income taxes Income tax expense Net income 23,300 303,000 93,300 209,700 21,300 238,500 74,300 $164,200 CULLUMBER COMPANY Balance Sheets December 31 Assets 2017 2016 Current assets Cash Debt investments (short-term) Accounts receivable Inventoryy $60,10064,200 50,000 108,500 116,800 339,500 532,300 $1,045,900 $871,800 74,000 123,500 127,300 384,900 661,000 Total current assets Plant assets (net) Total assets