$150,000 43,000 20,000 25,000 8,000 Sales Revenues Cost of goods sold Fixed costs Selling general, and administrative expenses Depreciation EBIT Interest expense Taxable Income | CA Net Income ... Thx rate Divides paid 2,000 30% $1000 ASSETS Current Assets Cash Accounts receivable Inventories Total current assets $2,000 6,000 A lance sheet 231/2019 LIABILITIES Current Liabilities $2,000 Notes payable 8,000 Accounts payable 6,000 Total current liabilities Long-term debt Total Liabilities 75,000 OWNERS' EQUITY 13,000 Retained earnings (1) Common stock O Total owner's equity 25,000 Gross Fixed assets Accumulated depreciation Net Fixed assets Intangible assets TOTAL ASSETS TOTAL LIABILITIES & OWNER'S EQUITY These are cumulative retained earnings but textbook simply calls it retained earnings ASSETS Current Assets Cash Accounts receivable Inventories 57,000 3.000 antolalance sheet 12/12 LIABILITIES Current Liabilities $5,000 Notes payable 6,000 Accounts payable 3.000 Total current liabilities Long-term debt 90,000 Total liabilities OWNERS' EQUITY Retained earnings 0 Common stock Total owner's equity 19,000 Total current assets Gross Fixed assets Accumulated depreciation Net Fixed Assets Intangible assets Total long-term assets TOTAL ASSETS TOTAL LIABILITIES & OWNER'S EQUITY When answering the questions (filling in the blanks), DO NOT use dollar signs, USE commas to separate thousands, DO NOT use parenthesis to denote negative numbers, USE the negative sign and place it in front of first digit of your answer when your answer is a negative number. Round to the nearest dollar. Total Liabilities as of 12/31/2020 is