You are given with the following information, regarding Mike sports company-

Income statement Mike Sports Inc. 31 Dec 2018
Sales	$ 1,293,000
Less: cost of sales	$ 517,200
Gross profit	$ 775,800
Less: operating costs	$ 150,000
Operating profit	$ 625,800
Less: financial expenses	$ 15,000
Profit before tax	$ 610,800
Less: taxes (37%)	$ 225,996
Net income after tax	$ 384,804

Balance Sheet Mike Sports Inc. 31 dec 2018Cash $ 1,500,000Accounts receivable $ 85,000Inventory $ 1,325,000Total current assets $ 2,910,000Gross fixed assets $5,750,000(Accumulated depreciation)-$4,220,500Net fixed assets $ 1,529,500Total assets $ 4,439,500Debts payable $ 238,500Taxes payable $ 366,000Short Term Laiabilites $ 604,500Long-term debt $ 1,646,500Long-term liabilities $ 1,646,500Total liabilities $2,251,000Stockholders' equity $ 2,000,000Retained earnings $ 188,500Total stockholders' equity $ 2,188,500Total liabilities and stockholders' equity $ 4,439,500