Problem 13-1A Here are comparative statement data for Prince Company and King Company, two competitors. All balance sheet data are as of December 31, 2014, and December 31, 2013 Prince Company 2014 King Company 2014 2013 2013 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense $1,907,200 1,087,600 262,100 6,900 66,800 $564,900 280,400 85,400 2,900 37,100 Current assets Plant assets (net) Current liabilities Long-term liabilities 1,195,836 1,135,000 317,183 80,240 67,237 739,963$709,171 189,173 $ 180,390 285,593 68,738 56,750 150,558 258,757204,300 172,100 Common stock, $10 par Retained earnings 1,135,000 1,135,000272,400 272,400 391,484 332,771 86,478 68,095