Partial Income Statement Year Ending 2014 Sales revenue $350,000 Cost of goods sold $141,900 Fixed costs $42,800 $28,000 Selling, general, and administrative expenses $46,100 Depreciation Partial Balance Sheet 12/31/2013 ASSETS LIABILITIES $16,100 Notes payable Cash Accounts receivable $28,000 Accounts payable $47,900 Long-term debt Inventories $367,800 OWNERS' EQUITY Fixed assets $142,500 Retained earnings Accumulated depreciation $82,200 common stock Intangible assets $13,800 $18,900 $190,100 $131,800