Paragraph CREDIT. YOU MUST SHOW ALL CALCULATIONS TO EARN 2015 01 BALANCE SHEETS: 160,000 120,000 620,000 520,000 Accounts Receivable 290,000 305,000 Inventory 510 0.000 410,000 Fixed Assets, net 1.580 1,355,000 Total Assets Liabilities and Equity: $375,000 350,000 Accounts payable 625,000 Long-term Debt 500,000 50,000 75,000 Common Stock 505 000 455,000 Retained Earnings 1,580,000 Total Liabilities and Equity 1,355,000 INCOME STATEMENT Revenue Cost of Goods Sold 2,275,000 515,000 General and Administrative Depreciation Expense Earnings Before Interest and Taxes 590,000 Interest Expense Pretax Net Income 550,000 Income Taxes 700 Net Income 363,000