The comparative statements of Larker Tool Company are presented below.

LARKER TOOL COMPANY Income Statement For the Years Ended December 31
		2013		2012
Net sales		$1,817,730		$1,753,810
Cost of goods sold		1,009,180		982,060
Gross profit		808,550		771,750
Selling and administrative expense		520,900		476,400
Income from operations		287,650		295,350
Other expenses and losses
Interest expense		17,630		14,370
Income before income taxes		270,020		280,980
Income tax expense		80,840		76,240
Net income		$189,180		$204,740

LARKER TOOL COMPANY Balance Sheets December 31
Assets		2013		2012
Current assets
Cash		$60,980		$64,680
Short-term investments		69,030		50,380
Accounts receivable (net)		117,060		102,860
Inventory		122,580		114,480
Total current assets		369,650		332,400
Plant assets (net)		603,840		522,330
Total assets		$973,490		$854,730
Liabilities and Stockholders