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Partial Income Statement At the End of 2019 Sales revenue Cost of goods sold Fixed costs Selling, general, and administrative expenses Interest expense Depreciation $350,200
Partial Income Statement At the End of 2019 Sales revenue Cost of goods sold Fixed costs Selling, general, and administrative expenses Interest expense Depreciation $350,200 $142,000 $43,000 $27,800 $10,000 $45,800 Tax rate 40% Partial Balance Sheet 2018 ASSETS Cash Accounts receivable LIABILITIES $16,100 Notes payable $27,800 Accounts payable $47,900 Long-term debt $367,800 OWNERS' EQUITY $143,000 Accumulated retained earnings $81,900 Common stock $14,200 $18,800 $189,900 Inventories Gross Fixed assets Accumulated depreciation (-) Intangible assets $131,900 Partial Balance Sheet 2019 ASSETS Cash and marketable securities Accounts receivable Inventories LIABILITIES $26,000 Notes payable $19,200 Accounts payable $53,200 Long-term debt $448,200 OWNERS' EQUITY Accumulated retained earnings $82,000 Common stock $11,800 $24,100 $161,800 Gross Fixed assets Accumulated depreciation (-). Intangible assets $181,900 What is the tax-adjusted net interest expense in 2019? $6,000 $4,000 $14,000 $10,000
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