Balance Sheet
Assets
Current assets	2016	2015
Cash & cash equivalents	4,100	3,100
Account receivables	2,733,148	1,941,002
Inventory	1,389,390	1,468,257
Other current assets	13,901	0
Total current assets	4,140,539	3,412,359
L.T. Assets
PPE	322,586	60,640
Total Assets	4,463,125	3,472,999
Liabilities & Shareholders Equity
Current liabilities
Accounts payable	276,556	256,419
Current maturities of notes payable	1,834,858	337,881
Accrued expenses	151,817	169,067
Other current liabilities	128,632	161,905
Total current liabilities	2,391,863	925,272
L.T. Liabilities
Bank loans	1,824,764	2,400,000
Total liabilities	4,216,627	3,325,272
Shareholders equity
Common stock	46,499	46,499
Retained earnings	199,999	101,228
Total shareholders equity	246,498	147,727
Total shareholders equity & liab.	4,463,125	3,472,999
Statement of income
Revenue	$17,285,211	$13,999,979
Cost of Good Sold	14,947,152	11,920,400
Gross profit on sales	2,338,059	2,079,579
Operating expenses	1,871,538	1,529,231
Repairs and maintenance	84,483	107,123
Depreciation & Amortization	25,688	24,410
Interest expense	215,246	255,003
Total expenses	2,196,955	1,915,767
Net income before taxes	141,104	163,812
Provision for income taxes	42,333	65,525
Net income	98,771	98,287
AUTO Inc, has paid $10,000 to its preferred shareholders in 2016 1) Compute Basic EPS and Diluted EPS