Earnhardt Driving School’s 2018 balance sheet showed net fixed assets of $3 million, and the 2019 balance sheet showed net fixed assets of $3.7 million. The company’s 2019 income statement showed a depreciation expense of $200,000. What was the company's net capital spending for 2019? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e. g., 1,234,567.)

$800,000

Explanation:

Calculation for Earnhardt Driving School’s net capital spending for 2019

Ending Fixed Assets $3,700,000

Less Beginning Fixed Assets ($3,000,000)

Balance $700,000

Add Depreciation $200,000

Net Capital Spending $800,000

Therefore Earnhardt Driving School’s net capital spending for 2019 will be $800,000

forbearance of student loan payments. under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue during the period of forbearance. if you don't pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.