Condensed financial data of Ulrich Company are shown below.

Additional information:
1. New plant assets costing $151,000 were purchased for cash during the year.
2. Investments were sold at cost.
3. Plant assets costing $36,000 were sold for $15,000, resulting in a gain of $5,000.
4. A cash dividend of $48,000 was declared and paid during theyear.

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ULRICH COMPANY Comparative Balance Sheets December 31 2010 Assets Cash Accounts receivable Inventorics Investments Plant assets Accumulated depreciation Total 2009 82,700 33,400 37,000 102,650 89,500 107,000 205,000 49,500 (40,000) 640,400 $445,050 75,800 121,900 320,000 Liabilities and Stockholders' Equit Accounts payabl Accrued expenses payable Bonds payable Common stock Retained carnings Total 52,700 48,280 18,830 70,000 200,000 107,940 $640,400 $445,050 15,100 140,000 250,000 182,600 ULRICH COMPANY Income Statement Data For the Year Ended December 3, 2010 Sales Gain on salc of plant assets $297,500 5,000 302,500 Less: Cost of goods sold Opcrating expenses, excluding $99,460 depreciation expense Depreciation expense Income taxes Interest cxpense 14,670 35,500 27,270 2,940 179,840 $122,660 Net incomc