Income Statement year ending 2020 Sales Revenues $140,000 Cost of goods sold 49,000 Fixed costs 16,000 Selling, general, and administrative expenses 25,000 Depreciation 9,000 EBIT Interest expense 2,000 Taxable Income Taxes Net Income Tax rate Dividens paid 40% S1000 ASSETS Current Assets Cash Accounts receivable Inventories Total current assets $3,000 8,000 Partial Balance Sheet 12/31/2019 LIABILITIES Current Liabilities $3,000 Notes payable 5,000 Accounts payable 5,000 Total current liabilities Long-term debt Total Liabilities 67,000 OWNERS' EQUITY 15.000 Retained earnings Common stock o Total owner's equity 16,000 (1) Gross Fixed assets Accumulated depreciation Net Fixed assets Intangible assets TOTAL ASSETS TOTAL LIABILITIES & OWNER'S EQUITY e comitivas ou Simply can feed came Partial Balance Sheet 12/31/2020 LIABILITIES ASSETS Current Assets Cash Current Liabilities $4,000 Notes payable 6,000 Accounts payable 7.000 Total current liabilities $7,000 4.000 Accounts receivable Inventories Total current assets Long-term debt 20,000 Gross Fixed assets Accumulated depreciation Net Fixed Assets Intangible assets Total long-term assets 84,000 Total liabilities OWNERS' EQUITY Retained earnings 0 Common stock Total owner's equity TOTAL ASSETS TOTAL LIABILITIES & OWNER'S EQUITY When answering the questions (filling in the blanks), DO NOT use dollar signs, USE commas to separate thousands, DO NOT use parenthesis to denote negative numbers, USE the negative sign and place it in front of first digit of your answer when your answer is a negative number. Round to the nearest dollar Total Assets as of 12/31/2019 is Your