Using Financial Statements for 2018-2019. Net assets available to meet preferred claims for 2019 is $8,611,350. T,F

Balance Sheet Assets Cash Marketable Securities Accounts Receivable Inventories Total Current Assets Property, Plant, & Equipment Other Fixed Assets Total Fixed Assets Total Assets Liabilities S Equity Accounts Payable Motes Payable Accrued Expenses Payable Accrued Taxes Payable Total Current Liabilities Long-Term Debt Total Liabilities Stockholder's Equity: Preferred Stock (5100 par, 6%) Common Stock (55 par value) Paid-In Capital in Excess of Par Retained Earnings Total Stockholder's Equity Total Liabilities & Equity U 2019 5,100,000 102,000 1,632,000 2,856,000 9,690,000 3,264,000 2,703,000 5,967,000 15,657,000 1,878,840 1,722,270 1,409,130 1,252,560 6,262,800 782,850 7,045,650 1,095,990 2,035,410 4,227,390 1,252,560 8,611,350 15,657,000 R 2018 4,900,000 98,000 1,568,000 2,744,000 9,310,000 3,136,000 2,597,000 5,733,000 15,043,000 1,805,160 1,654,730 1,353,870 1,203,440 6,017,200 752,150 6,769,350 1,053,010 1,955,590 4,061,610 1,203,440 8,273,650 15,043,000 Income Statement Sales Operating Expenses; Cost of Goods Sold Depreciation Selling & Admn. Expenses Total Operating Expenses Operating Income Other Income Total Income Interest Expense Earnings Before Tax Provision for Income Tax Net Income 2019 51,000,000 5,100,00 2,550,00 6,120,00 13,770,00 37,230,00 102,00 37,332,00 1,530,00 35,802,00 8,160,00 27,642,000 oo o o o oo oo g 2018 47,000,000 4,700,000 2,350,000 5,640,000 12,690,000 34,310,000 94,000 34,404,000 1,410,000 32,994,000 7,520,000 25,474,000