Computron's Income Statement 2019 INCOME STATEMENT Net sales $ 2,059,200 Cost of Goods Sold (Except depr. and amort.) $ 1,718,400 Other Expenses $ 204,000 Depreciation and amortization $ 11,340 Total Operating Costs $ 1,933,740 Earnings before interest and taxes (EBIT) $ 125,460 Less interest $ 37,500 Pre-tax earnings $ 87,960 Taxes (40%) $ 35,184 Net Income $ 52,776 Dividends $ 13,200 Tax rate 40% Computron's Balance Sheets 2019 Assets Cash and equivalents $ 5,400 Short-term investments $ 29,160 Accounts receivable $ 210,720 Inventories $ 429,120 Total current assets $ 674,400 Gross fixed assets $ 294,600 Less: Accumulated depreciation $ 87,720 Net plant and equipment $ 206,880