VILLA TOOL COMPANY Income Statement For the Year Ended December 31
	2013	2012
Net Sales	$1,818,500	$1,750,500
Cost of goods sold	1,011,500	996,000
Gross profit	807,000	754,500
Selling and administrative expense	516,000	479,000
Income from operations	291,000	275,500
Other expenses and losses
Interest Expense	18,000	14,000
Income before income taxes	273,000	261,500
Income tax expense	81,000	77,000
Net Income	$192,000	$184,500

VILLA TOOL COMPANY Balance Sheets December 31
Assets	2013	2012
Current assets
Cash	$60,100	$64,200
Short-term investments	69,000	50,000
Accounts receivable (net)	117,800	102,800
Inventory	123,000	115,500
Total current assets	369,900	332,500
Plant assets (net)	600,300	520,300
Total assets	$970,200	$852,800
Liabilities and Stockholders