1. A company's 2021 and 2022 simplified balance sheets (in thousands of dollars) are shown in the table below

	2022	2021
Cash and cash equivalents	$102,850	$89,725
Accounts Receivable	103,365	85,527
Inventories	38,444	34,982
Total Current Assets	$244,659	$210,234
Net Property plant and equipment (net fixed assets)	67,165	42,436
Total Assets	$311,824	$252,670
Accounts Payable	$30,761	23,109
Accruals	30,477	22,656
Notes Payable	16,717	14,217
Total Current liabilities	$77,955	$59,982
Long term debt	76,264	63,914
Total long-term liabilities	$76,264	$63,914
Common stock	100,000	90,000
Retained earnings	57,605	38,774
Total stockholders' equity	$157,605	$128,774
Total liabilities and equity	$311,824	$252,670

Additional Information for 2022

• Sales for 2022 were $455,150,000
• EBITDA was 15% of sales.
• Depreciation (and amortization) were 11% of net fixed assets
• Interest expense was $8,750,000.
• Corporate tax rate was 40%
• The company pays 40% of net income out as dividends.

a) Construct the Income Statement for 2022.

b) Construct the cash flow statement for 2022 .

c) Show that the increase in retained earnings in the balance sheet is consistent with your answer from part a) Show that the increase in cash in the first line of the balance sheet is consistent with your answer to part