The following condensed information is reported by Sporting Collectibles. 2021 2020 Income Statement Information Sales revenue $ 10,440,000 $ 8,400,000 Cost of goods sold 6,827,760 5,900,000 Net income 360,000 248,000 Balance Sheet Information Current assets $ 1,600,000 $ 1,500,000 Long-term assets 2,200,000 1,900,000 Total assets $ 3,800,000 $ 3,400,000