Income statement Use the data from the following financial statement in the popup window, Complete the partial income statement if the company paid interest expense of $18,000 for 2017 and had an overall tax rate of 40% for 2017 Complete the income statement below: (Round to the nearest dollar.) Income Statement Year Ending 2017 $350.000 Sales revenue Cost of goods sold $140,000 $43,000 Fixed costs $28.000 Selling, general, and administrative expenses Depreciation $46,000 EBIT Interest expense Taxable income Taxes Net income Enter any number in the edit fields and then click Check Answer. Partial Income Statement Year Ending 2017 Sales revenue $350.000 Cost of goods sold $140,000 Fixed costs $43,000 Selling, general, and administrative expenses $28,000 Depreciation $46.000 Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $16,000 Notes payable $14,000 Accounts receivable $28,000 Accounts payable $19.000 Inventories $48,000 Long-term debt $190,000 C $368,000 OWNERS' EQUITY Fixed assets Accumulated depreciation $142,000 Retained earnings $82,000 Common stock Intangible assets $130,000 Partial Balance Sheet 12/31/2017 LIABILITIES ASSETS $26,000 Notes payable Cash $12,000 $19,000 Accounts payable Accounts receivable $24.000 $162,000 $53,000 Long-term debt Inventories $448,000 OWNERS' EQUITY Fixed assets Accumulated depreciation Retained earnings $82,000 Common stock $180,000 Intangible assets The accumulated depreciation for 2017 is $(Round to the nearest dollar.) The distributed earnings is $ (Round to the nearest dollar.) The operating cash flow is $ (Round to the nearest dollar.) The interest expense for the year is $ (Round to the nearest dollar.) The cash flow from assets is $ (Round to the nearest dollar.) The net fixed assets for the year 2016 is $ (Round to the nearest dollar.)