Problem 22 Intro Below is the balance sheet for Southern Comfort Company for December 31 of 2017 and 2018 2017 2018 2017 2018 Cash 1,750 2,350 Accounts payable 5,250 7,050 Accounts receivable 5,250 7,050 Current liabilities 5,250 7,050 10,500 14,100 Current assets 12,250 16,450 Total liabilities 5,750 21,150 19,250 25,850 35,000 47,000 Total liab. & equity 35,000 47,000 Inventory 5.250 7050 Long-term debt Net fixed assets Total assets 22,750 30,550 Equity A partial income statement for 2018 is also given: Amount 112.800 62,040 16.920 11 280 Sales Cost Depreciation Interest Taxes (34%) Part 1 What was net income in 20182 BAttempt 1/10 for 10 pts. Ho decimals Submi