Chapter 5 Evaluating Operating and Financial Performance INCOME STATEMENT 2018 2019 Net sales $1,300,000 $1,600,000 Cost of goods sold 780,000 960,000 Gross profit 520,000 640,000 Marketing 130,000 160,000 General and administrative 150,000 150,000 Depreciation 40,000 55,000 EBIT 200,000 275,000 Interest 45,000 55,000 Earnings before taxes 155,000 220,000 Income taxes (40% rate) 62,000 88,000 Net income $ 93,000 $ 132,000 A. Calculate the cash build, cash burn, and net cash burn or build for Munich Exports in 2019. B. Assume that 2020 will be a repeat of 2019. If your answer in Part A resulted in a net cash burn position, calculate the net cash burn monthly rate and indicate the num- ber of months remaining "until out of cash." If your answer in Part A resulted in a net cash build position, calculate the net cash build monthly rate and indicate the expected cash balance at the end of 2020