Lozano Chip Company: Balance Sheet as of December 31, 2021 (Thousands of Dollars) Cash $ 220,000 Accounts payable $ 600,000 Receivables 1,575,000 Notes payable Inventories 1,120,000 Other current liabilities 100,000 515,000 Total current assets $2,915,000 Total current liabilities: $1,215,000 Net fixed assets 1,350,000 Long-term debt 400,000 Common equity 2,650,000 Total assets $4,265,000 Total liabilities and equity $4,265,000 Lozano Chip Company: Income Statement for Year Ended December 31, 2021 (Thousands of Dollars) Sales Cost of goods sold Selling, general, and administrative expenses Earnings before interest and taxes (EBIT) Interest expense Earnings before taxes (EBT)) Federal and state income taxes (25%) Net income $7,500,000 6,375,000 925,000 $ 200,000 40,000 $ 160,000 40,000 $ 120,000