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ABC Co. financial data for 2020 & 2019 are given below: 2020 2019 Total Assets $925,000 $915,000 Total Liabilities 667,000 527,000 Cash 36,000 45,000

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ABC Co. financial data for 2020 & 2019 are given below: 2020 2019 Total Assets $925,000 $915,000 Total Liabilities 667,000 527,000 Cash 36,000 45,000 Interest-bearing Debt 527,000 371,000 Net Income 169,000 127,000 Interest Expense 9,500 5,900 Tax Expense 21,000 18,600 Depreciation Expense 44,500 38,500

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