Partial Income Statement Year Ending 2014 Sales revenue $350, 100 $142,000 Cost of goods sold $42,800 Fixed costs $27,900 Selling, general, and administrative expenses $46,100 Depreciation Partial Balance Sheet 1231/2013 ASSETS LIABILITIES $16,200 Notes payable Cash Accounts receivable $28,000 Accounts payable $47,900 Long-term debt Inventories $368,000 OWNERS' EQUITY Fixed assets $143,500 Retained earnings Accumulated depreciation $82,200 common stock Intangible assets $14,100 $18,900 $190,200 $132,000