E14-8 selected comparative statement data for Queen Products company are presented below. All balance sheet data are as of December 31. 2017 2016 Net sales $750,000 $720,000 Cost of goods sold 480,000 440,000 Interest expense 7,000 5,000 45,000 Net income 42,000 120,000 Accounts receivable 100,000 85,000 75.000 Inventory 580,000 500,000 Total assets 430,000 Total common stockholders' equity 325,000