The data below are for Julian Company and Standard Company. Standard Company is the best company in Julian's industry; all companies in the industry strive to do things the way that Standard does them. Cash Accounts Receivable Inventory Property, plant, and equipment Total assets Total Liabilities Total Equity Sales Cost of Goods Sold Wage Expense Research Expense Advertising Expense Net Income Julian performance in Julian's industry. 500 5,000 3,000 12,000 20,500 13,000 7,500 20,000 (6,000) (10,000) (2,000) (1,600) 400 Standard O Julian Company has a problem with its advertising expense. O Julian Company has a problem with its cost of goods sold. O Julian Company has a problem with its wage expense. O Julian Company has a problem with its research expense. O Julian Company's profitability is better than Standard Company's profitability. 3,250 15,000 19,500 40,000 77,750 37,000 40,750 Which ONE of the following statements is TRUE regarding Julian's income statement? Remember, Standard Company represents the s