c) Use the following information to answer the questions. Hankook Motor Corporation Income Statement (in $...

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c) Use the following information to answer the questions. Hankook Motor Corporation Income Statement (in $ millions) For the years ending 31 December Sales Cost of goods sold Gross profit 2018 2019 $85,000 $100,000 75,000 85,000 $10,000 15,000 Selling, general, admin expenses 7,000 9,000 Operating profit Interest expense $3,000 $6,000 1,200 1,100 Profit before tax Taxes Net profit $1,800 $4,900 540 1,470 $1,260 $3,430 Hankook Motor Corporation Balance sheet (in $ millions) For the years ending 31 December 2018 2019 2018 2019 Assets Liability Cash $3,080 6,100 Account payable $3,600 $4,600 Accounts receivable 2,800 6,900 Notes payable 1,180 1,250 Inventory 6,200 6,600 Accruals 5,600 6,211 Total current assets Net plant, property $12,080 $19,600 Total current liabilities $10,380 $12,061 $23,087 $20,098 Long-term debt And equipment Total assets $6,500 $7,000 $35,167 $39,698 Total liabilities $16,880 $19,061 Equity Issued equity $2,735 $2,735 Retained earnings $15,552 $17,902 Total equity $18,287 $20,637 Total liability and equity $35,167 $39,698 c) Use the following information to answer the questions. Hankook Motor Corporation Income Statement (in $ millions) For the years ending 31 December Sales Cost of goods sold Gross profit 2018 2019 $85,000 $100,000 75,000 85,000 $10,000 15,000 Selling, general, admin expenses 7,000 9,000 Operating profit Interest expense $3,000 $6,000 1,200 1,100 Profit before tax Taxes Net profit $1,800 $4,900 540 1,470 $1,260 $3,430 Hankook Motor Corporation Balance sheet (in $ millions) For the years ending 31 December 2018 2019 2018 2019 Assets Liability Cash $3,080 6,100 Account payable $3,600 $4,600 Accounts receivable 2,800 6,900 Notes payable 1,180 1,250 Inventory 6,200 6,600 Accruals 5,600 6,211 Total current assets Net plant, property $12,080 $19,600 Total current liabilities $10,380 $12,061 $23,087 $20,098 Long-term debt And equipment Total assets $6,500 $7,000 $35,167 $39,698 Total liabilities $16,880 $19,061 Equity Issued equity $2,735 $2,735 Retained earnings $15,552 $17,902 Total equity $18,287 $20,637 Total liability and equity $35,167 $39,698