Please refer to Table 4-2 for the following questions. Table 4-2 Assets Cash and marketable securities Accounts receivable Inventories Prepaid expenses Total qurrent assets Fixed assets $400,000 1,415,000 1,847,500 24,000 3,686,500 2,800,000 Less accum depr.(1,087,500) 1.712.500 $5,399,000 Net fixed assets Total assets Liabilities Accounts payable Notes payable Accrued taxes Total current liabilities Long-term debt Common Stock (100,000 shares) Retained Earnings Total liabilities and owner's equity $600,000 875,000 92,000 $1,567,000 900,000 700,000 2,232,000 $5,399,000 $6,375,000 Net sales (all credit) Less. Cost of goods sold Selling and administrative expense Depreciation expense Interest expense Earnings before taxes (4,375,000) (1,000,000) (135,000) (100,000) $765,000