USE THE FOLLOWING DATA TO ANSWER QUESTIONS 35 40 20132014Sales500,000 560,000 COGS????149,350 Gross profit380,000 410,650 Oper. exp225,000 250,100 Depreciation15,000 15,000 Operating profit140,000 145,550 Interest exp.5,000 5,000 EBT135,000 140,550 Taxes50,000 56,000 Net Income85,000 84,550 20132014Cash450,000 478,500 Accounts rec275,000 250,000 Inventories280,000 325,000 Current Assets1,005,000 1,053,500 Net fixed assets1,125,000 ???Total Assets2,130,000 2,293,500 Notes payable150,000 125,000 Accounts payable90,000 115,000 Accruals15,000 25,000 Current Liabilities255,000 265,000 Long-term debt1,000,000 1,050,000 Common stock @ ($0.25 par)25,000 28,500 Additional paid in capital500,000 570,000 Retained earnings350,000 380,000 Total Liabilities & Equity2,130,000 2,293,500 Annual Balance SheetsAnnual Income

35. Net fixed assets in 2014 were $__________.

36. COGS on the 2013 common-sized income statement was 24%. Therefore, COGS in 2013 was

37. The debt ratio for 2014 was ____%.

38. Cash flow from operations in 2014 was $________.

39. Cash flow from investing in 2014 was $__________.

40. Total dividends paid in 2014 was $_______.