The Canavana Company gathered the following condensed data for the year ended December 31, 2019:AccountAmount (or percentage)Cost of Goods Sold$500,000Net Sales 975,000 Selling Expenses 150,000Interest Expense25,000 Administrative Expenses 175,000 Common Stock Dividends Paid50,000 Income tax percentage 35%The Canavana Company's assets at the beginning of 2019 were $900,000, and the assets were $950,000 at the end of 2019.What did the Caravan Company report as net income on its 2019 income statement

Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan