1. Use the below information to answer the following questions:
	2007	2008
Sales	$2,870	$3,080
Depreciation	413	413
Cost of goods sold	987	1121
Other Expenses	238	196
Interest	192	221
Cash	1505	1539
Accounts Receivables	1992	2244
Short-term Notes Payable	291	273
Long-term debt	5040	5880
Net fixed assets	12,621	12,922
Accounts Payable	1581	1533
Tax rate	34%	34%
Inventory	3542	3640
*Payout ratio	52%	52%

A. Create the Income Statements for 2007 and 2008 (including dividends paid and retained earnings).

B. Create the Balance Sheets for 2007 & 2008. Remember that the Owners Equity section. A+L+OE, so OE=total A - total L.

C. Create the statement of Cash Flows for 2008.

D. What is the CFFA for 2008?