What was the net capital spending in 2019? SHOW WORK
Chapter1: Financial Statements And Business Decisions
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3. What was the net capital spending in 2019? SHOW WORK

Transcribed Image Text:### Educational Website: Financial Statements Overview
#### Balance Sheet
Below are the balance sheets for the years 2018 and 2019, detailing the assets, liabilities, and equity of the company:
**2018**
- **Assets:**
- Cash: $1,700
- Accounts Receivable: $14,300
- Inventory: $22,500
- Net Fixed Assets: $82,900
- **Total Assets:** $121,400
- **Liabilities and Equity:**
- Accounts Payable: $13,800
- Long-term Debt: $47,500
- Common Stock & Paid In Surplus: $17,000
- Retained Earnings: $43,100
- **Total liabilities and equity:** $121,400
**2019**
- **Assets:**
- Cash: $1,600
- Accounts Receivable: $17,400
- Inventory: $23,700
- Net Fixed Assets: $81,600
- **Total Assets:** $124,300
- **Liabilities and Equity:**
- Accounts Payable: $12,900
- Long-term Debt: $48,600
- Common Stock & Paid In Surplus: $18,800
- Retained Earnings: $44,000
- **Total liabilities and equity:** $124,300
#### Income Statement 2019
The income statement for the year 2019 is as follows:
- **Net Sales:** $163,700
- **Cost of Goods Sold (COGS):** $108,200
- **Depreciation:** $14,100
- **Earnings Before Interest and Taxes (EBIT):** $41,400
- **Interest Expense:** $3,800
- **Taxable Income:** $37,600
- **Taxes:** $13,200
- **Net Income:** $24,400
### Graphs and Diagram Explanation
The table presented comprehensively breaks down the company's financial performance over two years, 2018 and 2019. It includes essential categories of financial data:
- **Balance Sheet:** Summarizes what the company owns (assets) and owes (liabilities), including shareholders' equity, at the end of each fiscal year.
- **Income Statement:** Reports on the company's financial performance over the fiscal year
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