Sove INet sales Cost of goods sold Depreciation Earnings Before interest and taxes Interest paid Taxable income Taxes $8,324 $4,988 $1,190 $2,146 Net income Dividends paid Addition to retained earnings $320 $1,826 $621 $1,205 $400 $805 Cash Accounts rec. Inventory Total Net fixed assets Smith Corporation Statement of financial position Years ended 2017 and 2018 ($ in millions) 2017 2018 $5.415 $3.341 Accounts payable $2.460 9979 Notes payable 2.405 2.885 Total 10.280 7.205 Long-term debt 12.300 16,720 Common stock Retaines earnings 221580 23.925 Total liabilities and Owner's equity 2017! 2018 1.110 1650 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 Sove INet sales Cost of goods sold Depreciation Earnings Before interest and taxes Interest paid Taxable income Taxes $8,324 $4,988 $1,190 $2,146 Net income Dividends paid Addition to retained earnings $320 $1,826 $621 $1,205 $400 $805 Cash Accounts rec. Inventory Total Net fixed assets Smith Corporation Statement of financial position Years ended 2017 and 2018 ($ in millions) 2017 2018 $5.415 $3.341 Accounts payable $2.460 9979 Notes payable 2.405 2.885 Total 10.280 7.205 Long-term debt 12.300 16,720 Common stock Retaines earnings 221580 23.925 Total liabilities and Owner's equity 2017! 2018 1.110 1650 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