Saved MONTGOMERY INCORPORATED Comparative Balance Sheets At December 31 Current Year Prior Year Assets Cash Accounts receivable, net Inventory Total current assets Equipment $ 55,900 13,800 123,700 Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable Salaries payable Total current liabilities Equity Common stock, no par value Retained earnings Total liabilities and equity MONTGOMERY INCORPORATED Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Salaries expense Depreciation expense Income before taxes $ 61,200 (25,400) 35,800 7,500 9,800 18,500 193,400 68,500 (31,000) $ 230,900 $ 33,000 600 33,600 165,900 31,400 $ 230,900 $ 56,300 16,800 97,100 170,200 57,500 (21,200) $ 206,500 $ 35,200 800 36,000 153,100 17,400 $ 206,500