Comparative financial statement data for Martinez Corp. and Novak Corp., two competitors, appear below. All balance sheet data are as of December 31, 2017. Martinez Corp.
Novak Corp.
2017 2017
Net sales $1,872,000 $644,800
Cost of goods sold 1,222,000 353,600
Operating expenses 294,320 101,920
Interest expense 9,360 3,952
Income tax expense 88,400 37,440
Current assets 460,300 198,136
Plant assets (net) 553,280 145,317
Current liabilities 68,978 35,065
Long-term liabilities 112,840 42,311
Net cash provided by operating activities
143,520 37,440
Capital expenditures 93,600 20,800
Dividends paid on common stock 37,440 15,600
Weighted-average number of shares outstanding 80,000 50,000