1) The following data comes from the balance sheet and income statement of company A. Balance Sheet: Cash Accounts Receivable Inventories $500 2,000 1,000 3,500 4,500 8,000 Current assets Net fixed assets Total assets Accounts Payable Accrued expenses Short-term N/P 1,100 600 300 2,000 2,000 4,000 $8,000 Current liabilities Long-term debt Owner's equity Total liabilities and owners' equity Income Statement Net sales COGS $8,000 3,300 4,700 3,000 1,700 367 1,333 533 S800 Gross proft Operating expenses Net operating income Interest expense EBT Income taxes Net income