Smith Corporation 2018 Statement of comprehensive income ($ in millions) Net sales $8,324 Cost of goods sold $4,988 Depreciation $1,190 Earnings Before interest and $2,146 taxes Interest paid $320 Taxable income $1,826 Taxes $621 Net income $1,205 Dividends paid $400 Addition to retained earnings $805 23 Cash Accounts rec. Inventory Total Net fixed assets Smith Corporation Statement of financial position Years ended 2017 and 2018 ($ in millions) 2017 2018 $5,415 $3,341Accounts payable $2.460 $979 Notes payable 2.405 2.885 Total 10,280 7,205 Long-term debt 12,300 16,720 Common stock Retained earnings 22.580 23,925 Total liabilities and Owner's equity 2017 2018 1.110 1,650 2,500 1,900 3.610 3,550 4,800 4,600 5,100 5,900 9,070 9.875 22,580 23.925 Total assets Smith Corporation 2018 Statement of comprehensive income ($ in millions) Net sales $8,324 Cost of goods sold $4,988 Depreciation $1,190 Earnings Before interest and $2,146 taxes Interest paid $320 Taxable income $1,826 Taxes $621 Net income $1,205 Dividends paid $400 Addition to retained earnings $805 23 Cash Accounts rec. Inventory Total Net fixed assets Smith Corporation Statement of financial position Years ended 2017 and 2018 ($ in millions) 2017 2018 $5,415 $3,341Accounts payable $2.460 $979 Notes payable 2.405 2.885 Total 10,280 7,205 Long-term debt 12,300 16,720 Common stock Retained earnings 22.580 23,925 Total liabilities and Owner's equity 2017 2018 1.110 1,650 2,500 1,900 3.610 3,550 4,800 4,600 5,100 5,900 9,070 9.875 22,580 23.925 Total assets