40% 10% 2 days 15% 10% 25 days Average quired vrithe what this information indicates about the differences in approach between the tw of them prides itself on persona service and one of them on competitive prices, which Sit do you thin ! Creative Advertising constructs, maintains, and sells advertising for highway billboard si information in the following financial statements for the next five problems and cases ch, and whyi? igns, Ue Creative Advertising Limited Income Statement for the year ended December 31, 2009 350,000 185,000 165,000 55,000 110,000 20,000 90,000 36,000 S 54,000 2,000 52000 2010 400,000 Sales Cost of goods sold Gross profit Expenses (excluding interest) EBIT Interest expense EBT Income tax expense (40%) Net income Preferred dividends Net income available to common shareholders 190,000 $115,000 20,000 95,000 38,000 57,000 2,000 55,000 Creative Advertising Limited Statement of Retained Earnings for the year ended December 31, Opening retained earnings Net income available to common shareholders Dividends to common shareholders Closing retained earnings 2010 35,000 55,000 10,000 $80,000 S (7,000) 35,000