An incomplete comparative income statement and balance sheet for Amherst Corporation follow:

Requirement
1. Using the ratios, common-size percentages, and trend percentages given, complete the income statement and balance sheet for Amherst for 2013. Additionalinformation:

Amherst Corporation Comparative income Statements Years Ended December 31, 2013 and 2012 2013 2012 Sales revenue Cost of goods sold Gross profit Operating expense Operating income Interest expense Income before income tax Income tax expense (30%) Net income $2,100,000 $2,000,000 1,400,000 600,000 400,000 40,000 40,000 160,000 48,000 S 112,000 Amherst Corporation Balance Sheet December 31, 2013 and 2012 2013 2012 ASSETS Current Cash 30,000 135,000 180,000 345,000 555,000 $900,000 Accounts receivable, net Inventory Total current assets Plant and equipment, net Total assets LIABILITIES Current liabilities 10% Bonds payable S $160,000 $140,000 400,000 540,000 Total liabilities STOCKHOLDERS EQUITY Common stock, $5 par Retained earnings 220,000 140,000 360,000 $900,000 Total stockholders' equity Total liabilities and stockholders' equity