FS Managment Textboc wSJ The following balance sheet and income statement for Central Manufacturing Corpor Balance Sheet Assets: Cash Income Statement $1,500 Sales (all credit) $57,500 Accounts Receivable 8,000 Cost of Goods Sold (33,500) Inventories 7,500 24,000 Land 15,000 Operating Expenses (20,000) Other Fixed Assets 14,000 Depreciation (1.000) 3,000 Liabilities & Owners Interest Expense (450) Equity Accounts Payable Long Term Debt 3,800 2,550 5,400 Taxes (850) Common Stock 30,000 Retained Earnings 6,800