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 $ 23,800 $ 18,600 Sales returns and allowances 1,000 100 Net sales $ 22,800 $ 18,500 Cost of merchandise (goods) sold 10,800 7,200 Gross profit $ 12,000 $ 11,300 Operating expenses: Depreciation 1,180 $ 840 Selling and administrative 5,800 4,400 Research 1.030 740 Miscellaneous 840 Total operating expenses 8,850 $ 6.520 Income before interest and taxes 3,150 $ 4,780 Interest expense 1,040 740 Income before taxes $ 2,110 $ 4,040 Provision for taxes 1,616 Net income $ 1,266 $ 2,424 "la calle 540 Mul on olul 844 LOGIC COMPANY Comparative Balance Sheet December 31, 2016 and 2017 2017 Amount 2016 Amount Percent Percent $ 11,100 15,600 7,600 23,100 57,400 8,100 11,600 13,100 9,100 41,900 $ $ $ $ 13,600 12,600 26,200 83,600 10,200 8,100 18,300 60,200 $ $ $ $ Assets Current assets: Cash Accounts receivable Merchandise inventory Prepaid expenses Total current assets Plant and equipment: Building (net) Land Total plant and equipment Total assets Liabilities Current liabilities: Accounts payable Salaries payable Total current liabilities Long-term liabilities: Mortgage note payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ $ 6,100 12,100 6,100 18,200 4,100 10,200 21,100 39,300 19,600 29,800 $ $ $ 20,100 24,200 44,300 83,600 $ $ 20,100 10,300 30,400 60,200 $