The following data are provided: December 31 2021 2020 Cash $ 1400000 $ 980000 Accounts receivable (net) 1500000 1250000 Inventories 2550000 2300000 Plant assets (net) 6000000 6600000 Accounts payable 1150000 790000 Income taxes payable 205000 90000 Bonds payable 1350000 1350000 10% Preferred stock. $50 par 2050000 2050000 1600000 1400000 Paid-in capital in excess of par Retained earnings 3950000 3500000 Net credit sales 13000000 Cost of goods sold 8200000 Operating expenses 3050000 Net income 1450000 Additional information: Depreciation included in cost of goods sold and operating expenses is $1240000. On May 1, 2021. 60000 shares of common stock were issued. The preferred stock is cumulative. The preferred dividends were not declared during 2021. The book value per share of common stock at 12/31/21 is 0 7695 235 The following data are provided: December 31 2021 2020 Cash $ 1400000 $ 980000 Accounts receivable (net) 1500000 1250000 Inventories 2550000 2300000 Plant assets (net) 6000000 6600000 Accounts payable 1150000 790000 Income taxes payable 205000 90000 Bonds payable 1350000 1350000 10% Preferred stock. $50 par 2050000 2050000 1600000 1400000 Paid-in capital in excess of par Retained earnings 3950000 3500000 Net credit sales 13000000 Cost of goods sold 8200000 Operating expenses 3050000 Net income 1450000 Additional information: Depreciation included in cost of goods sold and operating expenses is $1240000. On May 1, 2021. 60000 shares of common stock were issued. The preferred stock is cumulative. The preferred dividends were not declared during 2021. The book value per share of common stock at 12/31/21 is 0 7695 235