3. What was the net capital spending in 2019? SHOW WORK ### Educational Website: Financial Statements Overview#### Balance SheetBelow 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 2019The 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 ExplanationThe 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

NET CAPITAL SPENDINGNet Capital Spending is the Amount which is Incurred by the Organisation for…

Answered: What was the net capital spending in…

What was the net capital spending in 2019? SHOW WORK

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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