The comparative statements of Oriole Company are presented here. ORIOLE COMPANY Income Statements For the Years Ended December 31 2017 2016 Net sales $1,898,140 $1,758,100 Cost of goods sold 1,066 140 1,013,600 Gross profit 832,000 744,500 507,600 Selling and administrative expenses 486,600 Income from operations 324,400 257,900 Other expenses and losses Interest expense 23,900 21,900 Income before income taxes 300,500 236,000 Income tax expense 93,900 74,900 206,600 161,100 Net income ORIOLE COMPANY Balance Sheets December 31 ssets 2017 2016 Current assets 60,100 64,200 Cash Debt investments (short-term) 74,000 50,000 Accounts receivable 25,400 10,400 117,400 Inventory 127,900 387,400 342,000 Total current assets 660,000 Plant assets (net) 531,300 Total assets $1,047,400 $873,300 Liabilities and Stockholders' Equity Current liabilities 167,600 $153,000 Accounts payable Income taxes payable 45,400 43.900