A A Paste BIU Clipboard Font A1 fx A 4 Conditional Format as Alignment Number Formatting Cell Table Styles Styles Cells Editing Condensed financial statements for Games Galore are summarized below: B 4 Cash 3 Balance Sheet 5 Accounts Receivable, Net 6 Inventory 7 Prepaid Insurance 2016 2015 $ 185,000 $ 143,000 80,000 59,000 104,000 134,000 11,900 5,880 8 Total Current Assets 380,900 341,880 9 Property and Equipment, Net 514,500 407,000 10 Total Assets $ 895,400 $ 748,880 11 14 12 Current Liabilities 13 Long-term Liabilities Total Liabilities 15 Contributed Capital 16 Retained Earnings 17 Total Stockholders' Equity $ 85,300 $ 96,800 284,000 224,000 369,300 320,800 299,000 299,000 227,100 129,080 526,100 428,080 18 Total Liabilities and Stockholders' Equity $ 895,400 $ 748,880 19 20 Income Statement 21 Net Sales (all on account) 22 Cost of Goods Sold 23 Gross Profit 24 Operating Expenses 25 Income from Operations 26 Interest Expense $ 3,031,000 1,949,000 1,082,000 891,400 190,600 14.500 D