1) Using the following financial statements:

a) Calculate the dividends paid in 2018.

b) Has the firm made any long-term investments into their business in 2018, if yes, how many dollars were spent?

Income Statement Balance Sheet Year Ended 12/31/18 12/31/2018 12/31/2017 $1,400,000 Sales Current Assets $60,000 $45,000 880,000 Cost of Goods Sold 750,000 Gross Fixed Assets 650,000 Less Acc'd Depreciation Operating Expenses Depreciation Expense 200,000 100,000| 450,000 350,000 Fixed Assets 430,000 350,000 $490,000 EBIT Total Assets $395,000 350,000 Interest Expense 50,000 Current Liabilities EBT $35,000 $50,000 200,000 Long-term Debt Common Stock Retained Earnings Total Liabilities & Equity es 120,000 330,000 270,000 $180,000 5,000 Net Income 5,000 110,000 70,000 $395,000 $490,000