- - X Data Table More Info Rayborn Services, Inc. Income Statement Year Ended November 30, 2015 Additional data: a. Acquisition of plant assets totalled $116,000. Of this amount, $100,000 was paid in cash and a $16,000 note payable was signed for the remainder. b. Proceeds from sale of land totalled $25,000. No gain was recognized on the sale c. Proceeds from issuance of common shares totalled $70,000 d. Payment of long-term note payable was $16,000 e. Payment of dividends was $13,000 f. Data from the comparative statement of financial position follow Revenues SalesRevenue $ 304,000 14.000 Dividend Revenue Total Revenues $ 318,000 Expenses Cost of Goods Sold $ 108,000 November 30 2015 2014 45 000 Current Assets: Salaries Expense Depreciation Expense Advertising Expense 18.000 $ Cash 24,000 10.000 Accounts Receivable $ 128,000 42,000 87 000 58.000 Interest Expense 7,000 9,000 Inventory 75 000 Income Tax Expense Current Liabilities: 0 197,000 Total Expenses S Accounts Payable $ 35 000 26.000 0 S 121 000 27 000 Accrued Liabilities 41 000 Net Income yo