The following information is taken from French Corporation's financial statements: December 31 2018 2017 Cash Accounts receivable Allowance for doubtful accounts Inventory Prepaid expenses Land Buildings Accumulated depreciation Patents $81,760 $30,240 89,600 (5,040) (3,472) 196,000 7,616 67,200 273,280 (35,840)(14,560) 39,200 $795,200 $685,104 114,240 173,600 8,400 112,000 323,680 22,400 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings-appropriated Retained earnings-unappropriated Treasury stock, at cost $ 100,800$94,080 70,560 67,200 112,000 11,200 339,024 (16,800) (8,960) $795,200 $685,104 60,480 140,000 112,000 89,600 309,120 For 2018 Year Net income Depreciation expense Amortization of patents Cash dividends declared and paid Gain or loss on sale of patents $82,096 21,280 5,600 33,600 none