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Big Rock Candy Mountain Mining Co. Income Statements For the Years 2015 and 2016 2016 2015 Sales $369,300 $354,000 Cost of Goods 285,400 281,800
Big Rock Candy Mountain Mining Co. Income Statements For the Years 2015 and 2016 2016 2015 Sales $369,300 $354,000 Cost of Goods 285,400 281,800 Gross Profit 83,900 72,200 Depreciation 26,820 26,360 Selling & Admin. Expense 23,340 21,820 Other Operating Expense 1,080 1,080 Net Operating Income 32,660 22,940 Interest Expense 7,685 7.505 Earnings Before Taxes 24,975 15,435 Taxes 9,990 6.174 Net Income $14,985 59,261 Notes: Tax Rate Shares Earnings per Share 40.00% 40.00% $2,100 52,100 50.29 50.18 Big Rock Candy Mountain Mining Co. Balance Sheet For the Year Ended December 31, 2016 2016 2015 Assets Cash $14,714 $10,300 Marketable Securities $1,841 $550 Accounts Receivable $41,090 $42,100 Inventory $46,910 $48,490 Total Current Assets $104,555 $101,440 Gross Fixed Assets $388,000 $352,600 Accumulated Depreciation $78,020 $51,200 Net Plant & Equipment $309,980 $301,400 Total Assets $414,535 $402,840 Liabilities & Owner's Equity Accounts Payable $35,200 $32,700 Accrued Expenses $2.850 $2,740 Total Current Liabilities $38,050 $35,440 Long-term Debt $152,700 $158,600 Total Liabilities $190,750 $194,040 Common Stock ($1.00 par) $52,100 $52,100 Additional Paid-in-Capital $121,500 $121,500 Retained Earnings $50,185 $35,200 Total Owner's Equity $223,785 $208,800 Total Liab. & Owner's Equity $414,535 $402,840 b. On another worksheet, create a statement of cash flows for 2016. Do not enter any numbers directly on this worksheet. All formulas should be linked directly to the source on previous worksheets
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