1) Given the following financial information for 2014 and 2015, construct an Income Statement, Balance Sheet and Statement of Cash Flows for Grand Twins. - The Income Statement information is for the entire year. - The Balance Sheet information is for December 31 of each year. 2014 2015 Accounts Payable $2,065,168 47,677,904 5,786,943 27,280,000 $3,732,362 53,413,866 1,260,691 27,280,000 Accounts Receivable Cash Common Stock Cost of Goods Sold 45,014,348 975,000 1,200,000 90,430 8,399,133 50,298,751 975,000 1,200,000 103,266 8,989,075 Depreciation Expense Dividends Interest Expense Inventory Long-Term Debt Notes Payable Other Current Liabilities 5,209,356 9,295,976 4,320,784 11,608,208 Net Property, Plant & Equip. Retained Earnings 56,611,367 6,165,153 56,775,078 4,742,619 Revenue Selling, General, & Admin. Total Assets Tax Rate = 20% 2) Can you complete a 2014 Balance Sheet without being given Retained Earnings or Total Assets? 3) Can you complete a 2015 Balance Sheet without being given Retained Earnings, Total Assets, or Notes Payable? 4) What is your assessment of GTIs financial performance for 2015? 5) What clues to GTI's issues does the Balance Sheets provide