Based on the following information to construct an income statement, what is the net income amount? Interest expense= $25,000; Sales = $950,000; Selling and marketing expenses = $160,000; General and administrative expenses = $200,000; Depreciation = $30,000; Income tax rate = 28%; and Cost of goods sold = $400,000. O 128,700 O 94,500 O 127,200 O 97,200 Compare and contrast the two common-size balance sheets below. Firm A may belong to an auto manufacturer, and Firm B may belong to a computer manufacturer. Is this statement true or false? Common Size Balance Sheets Assets Firm A Firm E Cash 10.60% 26.70 Accounts 0.90% 18.80 receivable Inventory 2.90% 1.70% Other current assets 5.00% 7.90% Total current assets 19.40% 55.10 Net plant and equipment 13.30% 7.90% Other long-term assets 67.30% 37.10 Total assets 100.00% 100.0 Liabilities Accounts payable 6.50% 37.90 Notes payable 0.60% 0.00% Other current liabilities 19.00% 18.50 Total current liabilities 26.00% 56.40 Long-term debt 56.30% 2.60% Other liabilities 13.90% 8.40% Total liabilities 96.30% 67.50 Common equity 1.00% 0.80% Retained earnings 2.70% 31.70 Total stockholders' equity 3.70% 32.50 Total liabilities and equity 100.00% 100.0