Intro Use the following information to answer the questions: Assets Liabilities and Equity Cash 12,000 Accounts payable 20,000 Marketable securities 2,000 Notes payable 6,000 Accounts receivable 3,000 Current liabilities 26,000 Inventory 32,000 Long-term debt 95,000 Current assets 49,000 Total liabilities 121,000 Machines 34,000 Paid-in capital 20,000 Real estate 80,000 Retained earnings 22,000 Net fixed assets 114,000 Equity 42,000 Total assets 163,000 Total liab. & equity 163,000 The company has 19,500 shares outstanding, each trading at $4.308. Line item Value Sales 77,000 Costs 63,140 Depreciation 2,000 EBIT 11,860 Interest 800 Taxable income 11,060 Taxes 3,650 Net income 7,410