Incomplete and adapted versions of the financial statements of Horseshoe Landscaping Ltd. follow (amounts in thousands).

Ratio data:

• Current ratio at December 31, 2014, is 0.7547.

• Inventory turnover for 2014 was 5.284.

• Debt ratio at December 31, 2014, is 0.5906.

Required
Complete the financial statements. Start with the income statement. Then go to the cash flow statement. Complete the balance sheet last.

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HORSESHOE LANDSCAPING LTD Balance Sheet December 31, 2014 and 2013 2014 2013 Assets Current Cash $ (f) 1702 3,600 2,428 s 2,528 1,702 2984 2,196 204 Short-term investments Receivables, net Inventories Prepaid expenses ( Total current assets Cfi 9,614 19.63217 336 Propenty, plant, and equipment, net Total assets Liabilities Current liabilities Long-term liabilites 526,950 $14,204 $11,684 4,416 16,100 Total liabilities Shareholders' Equity Common shareholders' equity D)10850 $26,950 Total liabilities and shareholders equity (m)$26 950 HORSESHOE LANDSCAPING LTD Income Statement For the Year Ended December 31, 2014 Net sales Cost of goods sold Gross margin Selling and general expenses Other expense (income) Income before income tax $32,548 (A e1リ 13,624 480 e) Income tax expense (35%) Net income s (e) HORSESHOE LANDSCAPING LTD Cash Flow Statement For the Year Ended December 31, 2014 Net cash inflow from operating activities Net cash outflow from investing activities Net cash outflow from financing actvities Net increase (decrease) in cash during 2014 6,640 (2,420) (4.094 s (n)