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Problems: 1. 2018 Net fixed assets 5,600 Sales $3,900 Interest expense 450 Dividends 82 COGS 2,300 Cash 150 Depreciation exp 330 Receivables 415 Current liabilities

Problems:

1. 2018

Net fixed assets 5,600

Sales $3,900

Interest expense 450

Dividends 82

COGS 2,300

Cash 150

Depreciation exp 330

Receivables 415

Current liabilities 1,200

Inventory 850

Long-term debt 3,100

Tax rate 35%

Create an income statement(5) and balance sheet(5) for 2018. Solve for Net income and Total Equity.

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