ACCT MNGT 257 Financial Management Fall 2018 Tandy Company Case Study #1 review of Financial Statements From the information below prepare, in proper accounting form the, Income Statement, Balance Sheet, and Statement of Changes in Owners Equity, and Statement of Cash Flows for 2016 and 2017.

In your Income Statement Calculation, include Subtotals for EBITDA, EBIT, and EBT in addition to Net Income. You must submit your answers in either a MS Word or an MS Excel file.

TANDY COMPANY	Year Ending
	6/30/2017		6/30/2016		6/30/2015
Common Stock 100,000 shares outstanding	$460,000		$460,000		$460,000
Net Receivables	632,160		351,200		315,000
Cost of Goods Sold	5,528,000		2,864,000		2,706,000
Expenses	519,988		358,672		330,000
Interest Expense	136,012		43,828		42,500
Property Plant and Equipment	1,202,950		491,000		476,000
Less Accumulated Depreciation	263,160		146,200		127,300
Income Taxes (40%)	??		58,640		80,680
Cash And Cash Equivalents	7,282		57,600		37,500
Sales	6,034,000		3,432,000		3,300,000
Accounts Payable	524,160		145,600		166,000
Notes Payable	636,808		200,000		200,000
Accrued Liabilities	489,600		136,000		122,000
Depreciation Expense	116,960		18,900		19,800
Long Term Debt	723,432		323,432		323,432
Inventory	1,287,360		715,200		675,000
Dividends	11,000		22,000		22,000
Retained Earnings	32,592		203,768		104,748
Other Information
The firm had sufficient taxable income in 2016 and 2015 to obtain a full refund in 2017
Net Income for 2016	$87,960

Prepare the statement of owners equity and statement of cash flows.