Graffiti Advertising, Inc. Graffiti Advertising, Inc., reported the following financial statements for the last two years. 10 Incom Sales Costs of goods sold Selling & administrative S570,700 S273,970 $124.722 $54565 $117.443 EBIT Interest EBT Taxes Net income S 97.905 $39 162 58,743 $10,700 $48,043 Addition to retained eamings Balance Sheet as of December 31, 2009 $ 9.493 14.497 Cash $13,430 Accounts payable $18,983 Notes payable $13.805 S 23,990 $135,920 $231 064 390 974 Current liabilities Current assets Net fixed assets Total assets $46,218 Long-term debt $344,75 Owner's equity $390,974 Total abilities and owners Equity Balance Sheet as of December 31, 2010 Cash $10,523 $14,416 Accounts payable $21,088 Notes payable $22 765 $16.477 Inventory Current liabilities Current assets Net fixed assets Total assets S 27.000 $153,100 $284.469 $58,269 Long-term debt $406 300 $464 569 Owner's equity Total liabilities and owners Equity The amount of cash used to acquire fixed assets was in 2010. Select one: o a. $116,109 o b. $17,838 O c. $125,231 O d. $11,021