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Fixed assets. Use the data from the following financial statements in the popup window, What are the net fixed assets for the years 2016 and
Fixed assets. Use the data from the following financial statements in the popup window, What are the net fixed assets for the years 2016 and 2017? The net fixed assets for the year 2016 is $ (Round to the nearest dollar.) The net fixed assets for the year 2017 is $ (Round to the nearest dollar.) Partial Income Statement Year Ending 2017 Sales revenue $350,000 Cost of goods sold $141,800 Fixed costs $43,100 Selling, general, and administrative expenses $28,000 Depreciation $45,800 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $13,900 Accounts receivable $18,800 $15,900 Notes payable $27,900 Accounts payable $48,100 Long-term debt $367,900 OWNERS' EQUITY Inventories $189,900 Fixed assets Accumulated depreciation (-) $43,800 $143,800 Retained earnings $82,200 Common stock Intangible assets $131,800 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 ASSETS LIABILITIES Cash $12,100 Accounts receivable $26,100 Notes payable $19,100 Accounts payable $53,000 Long-term debt $23,800 Inventories $162,100 Fixed assets $447,900 OWNERS' EQUITY Accumulated depreciation (-) $58,300 Retained earnings $81,800|Common stock Intangible assets $182,000
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