Graffiti Advertising, Inc., reported the following financial statements for the last two years.

Graffiti Advertising, Inc., reported the following financial statements for the last two years. 2019 Income Statement Sales & 570,700 273,970 Costs of goods sold Selling & administrative Depreciation 124,722 54,565 EBIT Interest $ 117,443 19,538 EBT Taxes $ 97,905 39,162 Net income $ 58,743 Dividends Addition to retained earnings $ 10,700 $ 48,043 GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2018 Cash $ 13,430 Accounts payable Accounts receivable 18,983 Notes payable Inventory 13,805 Current liabilities $ 9,493 14,497 Current assets $ 46,218 Long-term debt $ 23,990 $135,920 $ 231,064 Net fixed assets $344,756 Owners' equity Total assets Total liabilities and owners' equity $390,974 GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2019 Cash $ 14,416 Accounts payable Accounts receivable 21,088 Notes payable Inventory 22,765 Current liabilities Current assets $58,269 Long-term debt $ 10,523 16,477 $27,000 $ 153,100 Net fixed assets $406,300 Owners' equity $284,469 Total assets 6464,569 Total liabilities and owners' equity $464,569