Balance Sheet 2013 2012 Income Statement 2013 2012 Assets Sales $ 37,000,000 $ 52,000,000 Cash 5 3,800,000 5 2,700,000 Operating Expenses: Marketable Securities 76,000 54,000 Cost of Goods Sold 3,700,000 5,200,000 Accounts Receivable 1,216,000 864,000 Depreciation 1,850,000 2,600,000 Inventories 2,128,000 1,512,000 Selling & Admin. Expenses 4,440,000 6,240,000 Total Current Assets 5 7,220,000 $ 5,130,000 Total Operating Expenses 5 9,990,000 $ 14,040,000 Property, Plant, & Equipment 2,432,000 1,728,000 Operating Income 27,010,000 37,960,000 Other Fixed Assets 2,014,000 1,431,000 Other Income 74,000 104,000 Total Fixed Assets 5 4,446,000 5 3,159,000 Total Income 5 27,084,000 $ 38,064,000 Total Assets $ 11,666,000 $ 8,289,000 Interest Expense 1,110,000 1,560,000 Liabilities & Equity Earnings Before Tax 25,974,000 36,504,000 Accounts Payable 1,399,920 5 994,680 Provision for Income Tax 5,920,000 8,320,000 Notes Payable 1,283,260 911,790 Net Income $ 20,054,000 $ 28,184,000 Accrued Expenses Payable 1,049,940 746,010 Accrued Taxes Payable 933,280 663,120 Total Current Liabilities 5 4,666,400 5 3,315,600 Long-Term Debt 583,300 414,450 Total Liabilities 5,249,700 5 3,730,050 Stockholder's Equity: Preferred Stock ($100 par, 6%) S 816,620 S 580,230 Common Stock ($5 par value) 1,516,580 1,077,570 Paid-In Capital in Excess of Par 3,149,820 2,238,030 Retained Earnings 933,280 663,120 Total Stockholder's Equity 6,416,300 5 4,558,950 Total Liabilities & Equity S 11,666,000 $ 8,289,000