2020 2021

Sales	$7,800	$8,700
Depreciation	750	1050
COGS	2922	3000
Interest	980	1096
Cash	400	600
Accts Receivables	900	600
ST Notes Payable	400	650
Long-term debt	2856	3035
Net fixed assets	8000	8500
Accounts Payable	1750	1600
Inventory	1700	1650
Payout Ratio	30%	35%
Tax rate	30%	30%

1. Create the Income Statement for both years.