Name Use for problems 1-9 Galaxy United, Inc. Income statement For period ending December 31.2009 (Ss) Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes 95,200 Less: Interest paid Taxable income Less: Taxes Net income 2008 and 2009 Balance Sheets $17,000 $24,700 Accounts payable $128,600 $134,700 Notes payable Inventory 189,400 186,200 $128.600 $134.700 47,500 141,000 Net fixed assets 261300 27%00 Common stock 125,000 140,000 Retained eamings 120.200 131800 Total assets $521.800 liabilities SS21,800$547,500