Sabin Electronics Comparative Balance Sheet This Year Last Year Assets Current assets: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses $ 70,000 $ 150,000 18,000 300,000 600,000 22,000 480,000 950,000 20,000 Total current assets Plant and equipment, net 1,520,000 1,480,000 1,090,000 1,370,000 Total assets $3,000,000 $ 2,460,000 Liabilities and Stockholders Equity Liabilities: Current liabilities Bonds payable, 12% 800,000 430,000 600,000 600,000 Total liabilities 1,400,000 1,030,000 Stockholders' equity Common stock, $15 par Retained eamings 750,000 850.000 750,000 680,000 Total stockholders' equity 1,600,000 1,430,000 Total liabilities and equity $3.000.000 $ 2.460,000 Sabin Electronics Comparative Income Statement and Reconciliation This Year Last Year $ 4,350,000 3,450,000 Sales Cost of goods sold $5,000,000 3,875,000 Gross margin Seling and administrative expenses 1,125,000 653.000 900.000 548,000 Net operating inoome Interest expense 472.000 72.000 352.000 72,000 Net income before taxes 400,000 280,000 MacBook Pro F1 F2 F3 44 F7 FS F6 & 3 4. Sabin Electronics Comparative Income Statement and Reconciliation This Year Last Year $ 4,350,000 3,450,000 Sales Cost of goods sold $5,000,000 3,875,000 Gross margin Selling and administrative expenses 1,125,000 653,000 900,000 548,000 Net operating income Interest expense 472,000 72,000 352,000 72,000 Net income before taxes Income taxes (30%) 400,000 120,000 280,000 84,000 Net income Common dividends 280,000 110,000 196,000 95,000 Net income retained Beginning retained earnings 170,000 680,000 101,000 579,000 Ending retained earnings $ 850,000 $ 680,000 During the past year, the company introduced several new nene a. Present the balance sheet in common-size format. (Round your percentage answers to 1 declmal place (L.e., 0.123 should be entered as 12.3).) Sabin Electronics Common-Size Balance Sheets Last Year This Year Assets Current assets: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses 0.0 0.0 Total current assets Plant and equipment, net Total assets 0.0 % 0.0 % Liabilities and Stockholders' Equity Liablities: Current liabilities Bonds payable, 12% Total liabilities 0.0 0.0 Stockholders equity: Common stock, $15 par Retained earnings Total stockholders' equity Total liabilities and equity 00 0.0 0.0% 0.0 % b. Present the income statement in common-size format down through net income. (Round your percentage answers to 1 decimal place (Le, 0.123 should be entered as 12.3).) MacBook Pro 44 F7 F1 F2 F3 FS %23 b. Present the income statement in common-size format down through net income. (Round your percentage answers to 1 decimal place (l.e., 0.123 should be entered as 12.3).) Sabin Electronics Common-Size Income Statements This Year Last Year Sales Cost of goods sold Gross margin 0.0 0.0 Selling and administrative expenses Net operating income Interest expense 0.0 0.0 Net income before taxes 0.0 0.0 Income taxes Net income 0.0 % 0.0 %