Sales for 20X2 were $250,000, and the cost of goods sold was 60 percent of sales. Selling and administrative expense was $25,000. Depreciation expense was 9 percent of plant and equipment (gross) at the beginning of the year. Interest expense for the notes payable was 11 percent, while the interest rate on the bonds payable was 13 percent. This interest expense is based on December 31, 20X1 balances. The tax rate averaged 25 percent. $2,600 in preferred stock dividends were paid, and $4,085 in dividends were paid to common stockholders. There were 10,000 shares of common stock outstanding. During 20X2, the cash balance and prepaid expenses balances were unchanged. Accounts receivable and inventory increased by 11 percent. A