Partial Income Statement Year Ending 2014 Sales revenue $350,000 $141,900 Cost of goods sold Fixed costs $42,800 $28,000 Selling, general, and administrative expenses $45,800 Depreciation Partial Balance Sheet 12/31/2013 ASSETS LIABILITIES $16,000 Notes payable Cash Accounts receivable $28,000 Accounts payable $47,800 Long-term debt Inventories $367,900 OWNERS' EQUITY Fixed assets $143,300 Retained earnings Accumulated depreciation $82,200 common stock Intangible assets $14,000 $19,100 $189,800 $132,000