Year Ended December 31 2018 2017 Percent Change Change $ Balance Sheets Assets Current Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Building and equipment, net Total assets $ 41,200 570,000 5,070,000 83,800 5,765,000 1,097,000 $ 6,862,000 $ 53,000 443,000 4,841,000 78,000 5,415,000 1,095,000 $ 6,510,000 (11,800) 127,000 229,000 5,800 350,000 2,000 352,000 -22.3% 28.7% 4.7% 7.4% $ $ $ $ $ 6.5% 0.2% 5.4% Liabilities and Stockholders' equity Current liabilities Accounts payable $ 604,000 Bank loan payable $ 679,000 Other accrued payables $ 213,000 Total current liabilities $ 1,496,000 Long-term debt $ 1,729,000 Total liabilities $ 3,225,000 Stockholders' equity Common stock 1,359,000 Retained earnings 2,278,000 Total stockholders' equity 3,637,000 Total liab. and stkhs' equity 6,862,000 $ $ $ $ $ $ 624,000 625,000 313,000 1,562,000 1,797,000 3,359,000 $ $ $ $ $ $ (20,000) 54,000 (100,000) (66,000) (68,000) (134,000) -3.2% 8.6% -31.9% -4.2% -3.8% 4.0% 1,359,000 1,792,000 3,151,000 6,510,000 486,000 486,000 352,000 0.0% 27.1% 15.4% 5.4% Year Ended December 31 2018 2017 $ 5,568,000 $5,253,000 $ 2,840,000 $2,627,000 $ 2,728,000 $ 2,626,000 $ $ $ Change 315,000 213,000 102,000 Percent Change 6.0% 8.1% 3.9% Great Oaks Furniture Statements of Earnings Net sales Cost of goods sold Gross margin Operating expenses: | Selling expenses General and admin. exp. Total operating expenses Operating income Interest expense Income before taxes Income taxes Net income 501,000 835,000 1,336,000 1,392,000 139,000 1,253,000 439,000 814,000 630,000 788,000 1,418,000 1,208,000 158,000 1,050,000 368,000 682,000 (129,000) 47,000 (82,000) 184,000 (19,000) 203,000 71,000 132,000 -20.5% 6.0% -5.8% 15.2% - 12.0% 19.3% 19.3% 19.4% Discuss some of the causes that could lead to these changes. Balance sheet: ncome statement