Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional
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| Category | Prior Year | Current Year |
| Accounts payable | ??? | ??? |
| Accounts receivable | 320,715 | 397,400 |
| Accruals | 40,500 | 33,750 |
| Additional paid in capital | 500,000 | 541,650 |
| Cash | 17,500 | 47,500 |
| Common Stock | 94,000 | 105,000 |
| COGS | 328,500 | 428,020.00 |
| Current portion long-term debt | 33,750 | 35,000 |
| Depreciation expense | 54,000 | 54,085.00 |
| Interest expense | 40,500 | 41,718.00 |
| Inventories | 279,000 | 288,000 |
| Long-term debt | 337,828.00 | 398,277.00 |
| Net fixed assets | 946,535 | 999,000 |
| Notes payable | 148,500 | 162,000 |
| Operating expenses (excl. depr.) | 126,000 | 161,202.00 |
| Retained earnings | 306,000 | 342,000 |
| Sales | 639,000 | 845,357.00 |
| Taxes | 24,750 | 48,634.00 |
What is the entry for the current year's interest expense on a common-sized income statement?
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