The following data were taken from the financial statements of Olvideo Enterprises Inc. for the current fiscal year.

The following data were taken from the financial statements of Olvideo Enterprises Inc. for the current fiscal year. Property, plant, and equipment (net) $1,791,000 Liabilities Current liabilities $240,000 Mortgage note payable, 8%, issued 2005, due 2021 1,194,000 $1,434,000 Total liabilities Stockholders' equity: $1,075,500 Preferred $4 stock, $100 par (no change during year) Common stock, $10 par (no change during year) 1,075,500 Retained earnings: Balance, beginning of year 1,148,000 536,000 $1,684,000 Net income Preferred dividends $43,020 206,980 250,000 Common dividends Balance, end of year 1,434,000 $3,585,000 Total stockholders' equity $11,202,450 Sales $95,520 Interest expense