Assets Cash Accounts receivable Inventory Property, plant & equipment (net) Other assets Total assets Liabilities & Stockholders' Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities & stockholders' equity Sales Beginning Balance Ending Balance $ 62,800 $ 160,000 150,000 180,000 230,000 240,000 833,000 37,000 793,000 37,000 $1,322,800 $1,400,000 $ 70,00 $ 80,000 550,000 550,000 410,000 410,000 292,800 360,000 $1,322,800 $1,400,000 This Year $2,500,000 Variable expenses: Cost of goods sold Variable selling expense 1,600,000 240,000 Total variable expenses 1,840,000 Contribution margin 660,000 Fixed expenses: Fixed selling expenses. 220,000 Fixed administrative expenses 300,000 Total fixed expenses 520,000 Net operating income 140,000 Interest expense (8%) 44,000 Net income before taxi 96,000 Tax expense (30%) Net income 28,800 $ 67,200 Click hamn to damask CH