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CSUSM has the following financial information: (Tax rate 22%) Current Year Revenues $ 48,915 Administrative expenses 12,106 Interest expense 816 Cost of goods sold 29,715

CSUSM has the following financial information: (Tax rate 22%) Current Year Revenues $ 48,915 Administrative expenses 12,106 Interest expense 816 Cost of goods sold 29,715 Depreciation 1,408 Net fixed assets 32,711 Current liabilities 14,652 Common stock 15,000 Current assets 16,506 Long-term debt 12,200 Retained earnings 7,365 Dividends paid 290. Prior year Revenues $ 43,610 Administrative expenses 11,602 Interest expense 468 Cost of goods sold 26,309 Depreciation 1,387 Net fixed assets 31,984 Current liabilities 14,625 Common stock 14,000 Current assets 14,687 Long-term debt ? Retained earnings 4,246 Dividends paid 275 What is net capital spending for the current year? (Show your work to receive full credit)

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