Intro Below is the balance sheet for Northern Comfort Company for December 31 of 2020 and 2021. Cash 2020 950 1,000 2021 2020 2021 Accounts payable 2,850 3,000 Accounts receivable 2,850 3,000 Current liabilities 2,850 3,000 Inventory 2,850 3,000 Long-term debt 5,700 6,000 Current assets 6,650 7,000 Total liabilities 8,550 9,000 Net fixed assets 12,350 13,000 Equity 10,450 11,000 Total assets 19,000 20,000 Total liab. & equity 19,000 20,000 The income statement for 2021 is also given: Amount Sales 48,000 Cost 26,400 Depreciation 7,200 EBIT 14,400 Interest 4,800 EBT 9,600 Taxes 2,880 Net income 6,720