Complete the comparative income statement and balance sheet for Logic Company. (Input all answers as positive values except decrease answers which should be indicated by a minus sign. Round your "percent" answers to the nearest hundredth percent.)

LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2016 and 2017
					INCREASE (DECREASE)
	2017		2016		Amount	Percent
Gross sales	$	19,000	$	15,000	$
Sales returns and allowances		1,000		100
Net sales	$	18,000	$	14,900	$
Cost of merchandise (goods) sold		12,000		9,000
Gross profit	$	6,000	$	5,900	$
Operating expenses:
Depreciation	$	700	$	600	$
Selling and administrative		2,200		2,000
Research		550		500
Miscellaneous		360		300
Total operating expenses	$	3,810	$	3,400	$
Income before interest and taxes	$	2,190	$	2,500	$
Interest expense		560		500
Income before taxes	$	1,630	$	2,000	$
Provision for taxes		640		800
Net income	$	990	$	1,200	$

LOGIC COMPANY Comparative Balance Sheet December 31, 2016 and 2017
	2017			2016
	Amount		Percent	Amount		Percent
Assets
Current assets:
Cash	$	12,000		$	9,000
Accounts receivable		16,500			12,500
Merchandise inventory		8,500			14,000
Prepaid expenses		24,000			10,000
Total current assets	$	61,000		$	45,500
Plant and equipment:
Building (net)	$	14,500		$	11,000
Land		13,500			9,000
Total plant and equipment	$	28,000		$	20,000
Total assets	$	89,000		$	65,500
Liabilities
Current liabilities:
Accounts payable	$	13,000		$	7,000
Salaries payable		7,000			5,000
Total current liabilities	$	20,000		$	12,000
Long-term liabilities:
Mortgage note payable		22,000			20,500
Total liabilities	$	42,000		$	32,500
Stockholders Equity
Common stock	$	21,000		$	21,000
Retained earnings		26,000			12,000
Total stockholders equity	$	47,000		$	33,000
Total liabilities and stockholders equity	$	89,000		$	65,500