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At year-end 2002. Yung com had notes payable of $1200, accounts payable of $2400, and long-term debt of $7000. Comesponding entries for 2003 are $1000,

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At year-end 2002. Yung com had notes payable of $1200, accounts payable of $2400, and long-term debt of $7000. Comesponding entries for 2003 are $1000, $2000, and $5000 Asset values are below. During 2003. Yung.com had sales of $1000, cost of goods sold of $400, depreciation of $100, and interest paid of $150 The (average) tax rate is 21% and all taxes are paid currently Current Asset 2002 2003 Cash $400 Marketable securities 400 Accounts receivable 900 Inventory 1800 Fixed Assets Net Fixed Asset (Plant&Equipment) In 2003, the NOWC 18 5 $500 300 800 2000 $6000 $7000

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