The most recent financial statements for Scott, Inc., appear below. Interest expense will remain constant; the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. Sales SCOTT, INC. 2019 Income Statement Costs Other expenses Earnings before interest and taxes Interest expense Taxable income Taxes (23%) Net income Dividends $31,140 Addition to retained 51,481 earnings $756,000 612,000 25,500 $ 118,500 11,200 $ 107,300 24,679 $ 82,621 SCOTT, INC. Balance Sheet as of December 31, 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 24,540 Accounts payable $ 58,600 Accounts receivable 33,890 Notes payable 15,500 Inventory 70,790 Total $ 74,100 Total $129,220 Long-term debt $ 104,000 Fixed assets Owners' equity Common stock and paid-in $ 99,000