Assets Cash Carrigan Corporation: Balance Sheet Accounts receivable Carrigan Corporation: Income Statement 2016 2015 2016 2015 $72,000 439,000 $65,000 328,000 Sales $4,240,000 $3,635,000 Cost of goods sold 3,680,000 2,980,000 Inventories 894,000 $13,000 Gross operating profit $560,000 $655,000 Total current assets i $1,405,000 $1,206,000 General admin. and selling expenses 303,320 297,550 Land and building 238,000 271,000 Depreciation 159,000 154.500 Machinery 132,000 133,000 EBIT $97,680. $202,950 Other fixed assets. 61,000 Total assets $1,836,000 $1,667,000 Liabilities and equity $7,000 Interest EBT Taxes (40%) Net income 67,000 $30,680 43,000 $159,950 12.272 $18,408 63,980 $95,970 Accounts payable $80,000 $72,708 Accrued liabilities 45,010 40,880 Other Infromation Notes payable 476,990 457,912 Per-Share Data 2016 2015 Total current liabilities $602,000 $571,500 EPS $0.80 $4.17 Long-term debt 404,290 Common stock $75,000 Retained earnings 254,710 258,898 $75,000 261,602 Cash dividends $1.10 50.95 Market price (average) $12.34 $23.57 P/E ratio 15.42 5.65 Total liabilities and equity $1,836,000 $1,667,000 Number of shares outstanding 23,000 23,000