CBA COMPANY - Balance Sheet - December 31, 1989 & 1990
		1989	1990
Assets
Cash Assets
Cash		$ 39,700	$ 27,500
Marketable Sceurities		$ 1,000	$ 11,000
Accounts Receivable (net)		$ 81,500	$ 72,700
Inventories		$ 181,300	$ 242,000
Total Current Assets		$ 303,500	$ 353,200
Fized Assets
Land		$ 112,000	$ 112,000
Pland and equipment (net)		$ 445,200	$ 464,800
Total Fixed Assets		$ 557,200	$ 576,800
Other Assets		$ 13,300	$ 21,500
Total Assets		$ 874,000	$ 951,500
Liabilitities & Net Worth
Current Liabilities
Accounts Payable		$71,200	$83,000
Notes Payable		$50,000	$140,000
Accrued Expenses		$33,400	$36,300
Total Current Liabilities		$154,600	$259,300
Long-Term Debt
Mortgage Payable		$106,000	$90,800
Net Worth
Common Stock		$225,000	$230,000
Earned Surplus		$388,400	$371,400
Total Net Worth		$613,400	$601,400
Total Liabilities and Net Worth		$874,000	$951,500

CBA COMPANY - Income Statement - 1989 & 1990
		1989	1990
Net Sales		$ 1,133,400	$ 1,147,700
Cost of Goods Sold*		$ 740,500	$ 813,300
Gross Margin		$ 392,900	$ 334,400
Expenses
Selling expenses		$ 172,500	$ 227,000
General and Administrative		$ 65,500	$ 71,800
Other expenses		$ 22,200	$ 25,000
Interest on Debt		$ 9,700	$ 14,300
Total Expenses		$ 269,900	$ 338,100
Profit (loss) before Taxes		$ 123,000	$ (3,700)
Federal Income Tax		$ 56,600	$ (1,700)
Net Income (loss)**		$ 66,400	$ (2,000)
*Includes depreciation of $31,500 for 1989 and $32,200 for 1990
**Dividends paid were $30,000 for 1989 and $15,000 for 1990 Develop a cash flow statement from the balance sheets and income statements of the CBA Co. for the year 1990. Make appropriate assumptions and comment on the results.