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The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. Revenue 2018 $4,400 2019 $4,500 Cost of goods sold 1,500 1,600 Depreciation 480 500 Inventories 290 320 Administrative expenses 530 580 Interest expense 210 210 Federal and state taxes* 530 550 Accounts payable 280 340 Accounts receivable 440 480 Net fixed assets 4,500 5,270 Long-term debt 4,300 7,100 Notes payable 896 610 Dividends paid 440 440 Cash and marketable securities 2,864 510 * Taxes are paid in their entirety in the year that the tax obligation is incurred. t Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed.
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