Problem 13-2A xl Your answer is incorrect. Try again. The comparative statements of Osborne Company are presented here. OSBORNE COMPANY Income Statements For the Years Ended December 31 2014 2013 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses $1,890,540 $1,750,500 1,006,000 744,500 479,000 265,500 1,058,540 832,000 500,000 332,000 Interest expense Income before income taxes Income tax expense Net income 22,000 310,000 92,000 20,000 245,500 73,000 $218,000 $172,500 OSBORNE COMPANY Balance Sheets December 31 2014 2013 Assets Current assets Cash Debt investments (short-term) $60,100 64,200 50,000 74,000