Fargo Inc. showed the following income statement information for its first three years of operations:

Partial information regarding Fargo’s equity for the past three years follows:

Required
1. Calculate Gross Profit, Operating Income, Income Before Tax, and Net Income for the years ended December 31, 2013, 2014, and 2015.
2. Calculate Contributed Capital as at December 31, 2013, 2014, and 2015.
3. Calculate Retained Earnings as at December 31, 2013, 2014, and 2015.
4. Calculate Total Equity as at December 31, 2013, 2014, and 2015.
Analysis Component: Assume total liabilities in 2015, 2014, and 2013 were $1,123,200, $936,000, and $900,000, respectively. Identify whether the balance sheet has been strengthened from 2013 to 2015. Explain what thismeans.

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For the Years Ended December 31 2015 2014 2013 Net Sales.... Cost of Goods Sold .. Operating Expenses.... Other Revenues (Expenses). Income Tax Expense . $5,000,000 $4,000,000 $3,000,000 3,000,000 2,400 1,400,0001,3 (200,000)(220,000) ,0001 1,650,000 900,000 50,000 100,000 1,300,000 80,000 16,000 Dec. 31, 2015 Dec. 31, 2014 Dec. 31, 2013 Contributed capital: Preferred shares, $2 non-cumulative; 100,000 shares authorized 20,000* shares issued and outstanding $400,000 $400,000 $400,000 Common shares, 500,000 shares authorized; 100,000* shares issued and outstanding . 50,000 5s0,000 550,000 Total contributed capital Retained earnings** Total equity..