The following data are provided: December 31 Cash 2021 2020 $ 1350000 1020000 Accounts receivable (net) 1500000 1250000 Inventories 2650000 2150000 Plant assets (net) 8000000 6500000 Accounts payable 1050000 790000 Income taxes payable 200000 100000 Bonds payable 1300000 1300000 10% Preferred stock, $50 1900000 1900000 par Common stock, $10 par 2450000 1800000 Paid-in capital in excess of 1550000 1300000 par Retained earnings 3950000 3400000 Net credit sales 13000000 Cost of goods sold 8600000 Operating expenses 2800000 Net income 1550000 Additional information: Depreciation included in cost of goods sold and operating expenses is $1240000. On May 1, 2021, 65000 shares of common stock were issued. The preferred stock is cumulative. The preferred dividends were not declared during 2021. At December 31, 2021, the acid-test ratio was O O O O 4150+1550. 2850 1250. 2850 +2205. 5500 +1250.