tion Completion Status: 4 5 7 9 obal Company and Local Company are competitors in the same industry. Selected financial data from their 2020 statements follow. Cash Accounts receivable. Inventory Investments Intangibles Balance Sheet December 31, 2020 Global Company Local Company $ 40,000 $ 255,000 145,000 490,000 220,000 770,000 130,000 410,000 43,000 90,000 550,000 $1,078.000 1000,000 $2.965,000 $ 190,000 310,000 $ 505,000 1,240,000 160,000 100,000 310,000 850,000 148,000 310,000 $1,078,000 $2.965.000 Property, plant, and equipment Total assets Accounts payable Bonds payable Preferred stock, $1 par Common stock, $10 par Retained earnings Total liabilities and capital Income Statement For the Year Ended December 31, 2020 Global: Company Local Company Sales $3,465,000 $15,400,000 Cost of goods sold 2,392,500 11,275,000 Selling and administrative expenses 759,000 Interest expense 33,000 Income taxes 148,000 Net income $141.900 3,190,000 176,000 357,500 $ 401.500