Question 1 Prepare a balance sheet for ABC Co. using the information given below. Make sure to identify current assets, net fixed assets, total assets, current liabilities, long-term debt, total equity, and total liabilities and equity. December 31, 2019 Gross fixed assets $40,000 Cash |$18,000 Other assets $5,000 Accumulated depreciation $30,000 Common stock $43,000 Short-term notes payable $12,000 Accounts payable $35,000 Inventories $122,000 Retained earnings $100,000 Accounts receivable $60,000 Long-term notes payable $10,000 Long-term bonds payable $15,000 Sales $300,000 Cost of goods sold $150,000 Depreciation expense $3,000 Question 2 Prepare an income statement for XYZ. Co. for the year 2019 using the information given below. Make sure to identify EBIT (earnings before interest and taxes), EBT (earnings before taxes), and Net Income. Additionally, calculate the NOPAT (Net operating profit after taxes). (140,000 Cost of goods sold Operating expenses excluding depreciation Depreciation Interest expense Tax rate Sales (26,000 (2,000) |(2,000) 34.62% $196,000