Galaxy Interiors 2011 Income Statement (S in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable Income Less: Taxes Net income $21,415 16,408 1,611 3,396 1,282 $2,114 740 1,374 Galaxy Interiors 2010 and 2011 Balance Sheets (S in millions) 2010 2011 668 $ 297 Accounts payable $1,694 $ 1,532 $4,194 $ 1532 2010 2011 Cash Accounts receivable Inventory Total Net fixed assets 1,611 1,527 Notes payable 3.8482947 Total $ 6122 $ 4.771 Long-term debt 17489 17102 common stock 9,800 10,650 7,500 7,000 Retained earnings2,122 2,696 23616 $21.878 Total liab.& equity $23.616 $21878 Total assets