Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2 decimal places except $ amounts.) Income Statement 2017 Sales $ 5,730,000 Cost of goods sold 3,020,000 Depreciation 299,200 Selling & admin. expenses 1,602,000 EBIT $ 808,800 Interest expense 170,000 Taxable income $ 638,800 Taxes 289,300 Net income $ 349,500 Balance Sheet, Year-End 2017 2016 Assets Cash $ 42,600 $ 85,000 Accounts receivable 600,000 1,474,300 Inventory 445,500 1,025,500 Total current assets $ 1,088,100 $ 2,584,800 Fixed assets 2,861,000 6,043,000 Total assets $ 3,949,100 $ 8,627,800 Liabilities and Stockholders' Equity Accounts payable $ 316,400 $ 1,042,000 Short-term debt 498,000 1,279,500 Total current liabilities $ 814,400 $ 2,321,500 Long-term bonds 1,854,400 5,115,500 Total liabilities $ 2,668,800 $ 7,437,000 Common stock $ 311,700 $ 311,700 Retained earnings 968,600 879,100 Total stockholders' equity $ 1,280,300 $ 1,190,800 Total liabilities and stockholders' equity $ 3,949,100 $ 8,627,800