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Partial Income Statement Year Ending 2017 Sales revenue $350,000 Cost of goods sold $140,000 Fixed costs $43,000 Selling, general, and administrative expenses $28,000 Depreciation $46,000

Partial Income Statement Year Ending 2017

Sales revenue

$350,000

Cost of goods sold

$140,000

Fixed costs

$43,000

Selling, general, and administrative expenses

$28,000

Depreciation

$46,000

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in order to copy its contents into a spreadsheet.)

Partial Balance Sheet 12/31/2016

ASSETS

LIABILITIES

Cash

$16,000

Notes payable

$14,000

Accounts receivable

$28,000

Accounts payable

$19,000

Inventories

$48,000

Long-term debt

$190,000

Fixed assets

$368,000

OWNERS' EQUITY

Accumulated depreciation

$142,000

Retained earnings

Intangible assets

$82,000

Common stock

$130,000

(Click on the following icon

in order to copy its contents into a spreadsheet.)

Partial Balance Sheet 12/31/2017

ASSETS

LIABILITIES

Cash

$26,000

Notes payable

$12,000

Accounts receivable

$19,000

Accounts payable

$24,000

Inventories

$53,000

Long-term debt

$162,000

Fixed assets

$448,000

OWNERS' EQUITY

Accumulated depreciation

Retained earnings

Intangible assets

$82,000

Common stock

$180,000

Cash flow to creditors. Use the data from the following financial statements in the popup window,

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. The company paid interest expense of

$18,000

for 2017 and had an overall tax rate of

40%

for 2017. Find the cash flow to creditors for 2017 by parts and total, with the parts being interest expense and increases or decreases in borrowing (long-term debt).

The interest expense for the year is

$nothing.

(Round to the nearest dollar.)

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