Income Statement Accounts 2019 Net Sales $1,450,000 Cost of Goods Sold 1,015,000 Selling and Admin. Expense 185,385 Non operating revenue 8,860 Interest Expense 12,100 Earnings Before Income Tax 246,375 Provision for Income Taxes 113,616 Net Income $ 132,759 Financial position Accounts Current Liabilities $ 189,000 Long-term debts 112,000 Preferred Stocks (10%) 100,000 Common Stocks 850,000 Retained Earnings 265,518 Other Information Total Assets include the following: 12,000 Goodwill 250,000 Construction in Progress Compute Total Assets Turnover