Year 2 Year 1 Net sales $ 485,500 $ 427,650 Cost of goods sold 277,700 251,520 Interest expense 11,100 12,100 Net income before tax 68,650 54,080 Net income after tax 47,450 41,300 Total assets 319,900 296,400 Total liabilities 174,400 168,700 Total equity 145,500 127,700