50.00 points Comparative financial statement data for Carmono Company follow Assets Cash Accounts receivable Inventory 24 Total current assets 75 70 Property, plant, and equipment Less accumulated depreciation 240 65 200 50 Net property, plant, and equipment 175 150 Total assets $250 $220 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings S 40 150 60 S 36 145 39 Total liabilities and stockholders' equity $250 $220 For this year, the company reported net income as folows: Sales Cost of goods sold $275 150 Gross margin Selling and administrative expenses 125 90 Net income s 35