Problem 16 Intro Below is the balance sheet for Southern Comfort Company for December 31 of 2019 and 2020 Cash Accounts receivable Inventory Current assets Net fixed assets Total assets 2019 2020 1,800 2,400 5,400 7,200 5,400 7,200 12,600 16,800 23,400 31,200 36,000 48,000 Accounts payable Current liabilities Long-term debt Total liabilities Equity Liab. & equity 2019 2020 5,400 7,200 5,400 7,200 10,800 14,400 16,200 21,600 19,800 26,400 36,000 48,000 A partial income statement for 2020 is also given: Amount Sales 115,200 Cost 63,360 Depreciation 17,280 Interest 11,520 Taxes (34%) The company had capital expenditure of $25,080 in 2020. 18 Attempt 2/3 for 8 pts. Part 1 What was net income in 2020? 0+ decimals Submit * Attempt 1/3 for 10 pts. Part 2 What was the change in net working capital? 0+ decimals Submit Attempt 1/3 for 10 pts. Part 3 What was the project cash flow in 2020? 0+ decimals Submit