Balance Sheet December 31st 2016 () 2017 () Assets Cash 2,000 4,500 Accounts receivable (net) 2,000 6,500 Inventory 2,000 5,000 Property, plant, and equipment (net) 20,000 35,000 Other assets 4,000 5,000 Total assets 30,000 56,000 Liabilities and Stockholders' Equity Accounts payable 2,500 3,000 Notes payable 1,500 4,000 Bonds payable 10,000 30,000 Common stock, 1 par value 1,000 3,000 Additional paid-in capital 9,000 9,000 Retained earnings 6,000 7,000 Total liabilities and stockholders' equity 30,000 56,000 Income Statements For the Year Ended December 31, Net sales 2016 () 53,000 2017 () 86,000 Costs and expenses Cost of goods sold Selling expenses Administrative expenses 37,000 61,000 7,000 10,000 4,000 5,000 Total costs and expenses 48,000 76,000 Income from operations 5,000 10,000 Interest expense 1,400 3,200 Income before income taxes 3,600 6,800 Income taxes 1,800 3,400 Net income 1,800 3,400