The following information is from Omar Corp balance sheets as of December 31, Years 2 and 1 and income statement for Year 2: 2 Assets: Cash $ 18,000 $ 22,000 Temporary investments 25,000 -0- Accounts receivable 38,000 42,000 Inventory 61,000 52,000 Prepaid insurance 6,000 9,000 Long-term investments 49,000 20,000 Equipment (net) 130,000 130,000 Land 33,000 33,000 Goodwill 55,000 55,000 Total assets $415,000 $363,000 Net income Sales (all on credit) $ 62,250 305,000 Cost of goods sold 123,000 Interest expense 15,600 Income tax expense 26,679