Account

Current year

Prior year

Net sales (all credit)

$520,125

$499,500

Cost of goods sold

$375,960

$353,600

Gross profit

$144,165

$145,900

Income from operations

$ 95,500

$ 79,900

Interest expense

$ 23,500

$ 19,500

Net income

$ 57,600

$ 51,600

Cash

$ 30,600

$ 15,900

Accounts receivable, net

$ 33,800

$ 23,200

Inventory

$ 42,000

$ 30,300

Prepaid expenses

$ 2,000

$ 1,500

Total current assets

$ 108,400

$ 70,900

Total long-term assets

$ 62,000

$ 38,000

Total current liabilities

$ 46,000

$ 41,600

Total long-term liabilities

$ 20,000

$ 22,700

Common stock, no par, 3,000 shares, value $50/share

$ 30,000

$ 30,000