points See ( 8 0152:32 LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2019 and 2020 2e2e 2019 Gross sales $24,000 $18,75e Sales returns and allowances Net sales $23, 1ee $18,650 Cost of merchandise (goods) sold 1e 750 7, 10e Gross profit $12,350 $1155e Operating expenses Depreciation $ 1,200 $ 858 Selling and administrativ 5,950 4,500 Research 1, ese 75e Miscellaneous 562 $50 Total operating expenses 59,266,652 Income before interest and taxes 53,29854,900 Interest expense 1060 Income before taxes S23215 Provision for taxes sete 1.333 5 2492 Skipped LOGIC CORP Congrats Balance Sheet December 31, 2 and 20e soze Assets $ $ 11,000 15,500 3500 23.00 S5.5e 2, 11500 12.00 1500 531 0050 Liabilities Cut 1 Assignment LOGIC COMPANY Comparative Balance Sheet December 31, 2019 and 2820 zeze 2019 Assets Current assets: Cash Accounts receivable Merchandise inventory Prepaid expenses Total current assets Plant and equipment Building (net) $ 11,99 $ 7,900 15. see 11,500 7, see 13, eee 23. eee .ee $ 57,eee $ 41, 4ee $ 13,5ee 5 le, 1ee 12,500 ,000 $ 26,098 5 13,109 $ 33,000 $ 59,500 Total plant and equipment Total assets abilities Current liabilities Accounts payable Salarios payable Total current liabilities Ong-ters b ities 5 12. de $ 6,10e 5. 0 4 .093 $ 15,00 $ 10, 10e Totale Lab Stockholders! Equity 21. eee $ 39,000 19,400 5 29,500 Retain i nes Total tockholderseguit $20.300 20. See 23,7ee9 .200 5.44.000 $ 30,000 $83.00 39. See Calculate net income after text to the net sales (Round your answers to the nearest hundredth.) 2019 Net home to metales