Balance Sheet 2013 2012 Income Statement 2013 2012 Assets Sales $ 48,000,000 $ 45,000,000 Cash 5,100,000 $ 4,200,000 Operating Expenses: Marketable Securities 102,000 84,000 Cost of Goods Sold 4,800,000 4,500,000 Accounts Receivable 1,632,000 1,344,000 Depreciation 2,400,000 2,250,000 Inventories 2,856,000 2,352,000 Selling & Admn. Expenses 5,760,000 5,400,000 Total Current Assets 9,690,000 $ 7,980,000 Total Operating Expenses $ 12,960,000 $ 12,150,000 Property, Plant, & Equipment 3,264,000 2,688,000 Operating Income 35,040,000 32,850,000 Other Fixed Assets 2,703,000 2,226,000 Other Income 96,000 90,000 Total Fixed Assets 5,967,000 $ 4,914,000 Total Income $ 35,136,000 $ 32,940,000 Total Assets $ 15,657,000 $ 12,894,000 Interest Expense 1,440,000 1,350,000 Liabilities & Equity Earnings Before Tax 33,696,000 31,590,000 Accounts Payable 1,878,840 $ 1,547,280 Provision for Income Tax 7,680,000 7,200,000 Notes Payable 1,722,270 1,418,340 Net Income $ 26,016,000 $ 24,390,000 Accrued Expenses Payable 1,409,130 1,160,460 Accrued Taxes Payable 1,252,560 1,031,520 Total Current Liabilities S 6,262,800 $ 5,157,600 Long-Term Debt S 782,850 $ 644,700 Total Liabilities S 7,045,650 5 5,802,300 Stockholder's Equity: Preferred Stock ($100 par, 6%) S 1,095,990 $ 902,580 Common Stock ($5 par value) 2,035,410 1,676,220 Paid-In Capital in Excess of Par 4,227,390 3,481,380 Retained Earnings 1,252,560 1,031,520 Total Stockholder's Equity 8,611,350 $ 7,091,700 Total Liabilities & Equity $ 15,657,000 $ 12,894,000