Question 12 Your answer is partially correct. Try again. The comparative statements of Wildhorse Co. are presented here: Wildhorse Co. Income Statements For the Years Ended December 31 2020 Net sales $1,892,340 Cost of goods sold 1,060,340 Gross profit 832,000 Selling and administrative expenses 501,800 Income from operations 330,200 Other expenses and losses Interest expense 23,700 Income before income taxes 306,500 Income tax expense 93,700 Net income $212,800 2019 $1,752,300 1,007,800 744,500 480,800 263,700 21,700 242,000 74,700 $167,300 Wildhorse Co. Balance Sheets December 31 Assets Current assets Cash Debt investments (short-term) Accounts receivable 2020 2019 $60,100 74,000 119,600 127,700 Inventory $64,200 50,000 104,600 117,200 Total current asset Question 12 Your answer is partially correct. Try again. The comparative statements of Wildhorse Co. are presented here: Wildhorse Co. Income Statements For the Years Ended December 31 2020 Net sales $1,892,340 Cost of goods sold 1,060,340 Gross profit 832,000 Selling and administrative expenses 501,800 Income from operations 330,200 Other expenses and losses Interest expense 23,700 Income before income taxes 306,500 Income tax expense 93,700 Net income $212,800 2019 $1,752,300 1,007,800 744,500 480,800 263,700 21,700 242,000 74,700 $167,300 Wildhorse Co. Balance Sheets December 31 Assets Current assets Cash Debt investments (short-term) Accounts receivable 2020 2019 $60,100 74,000 119,600 127,700 Inventory $64,200 50,000 104,600 117,200 Total current asset