Consider recent financials for Ellie's Essentials LLC : Balance Sheet 2018 2017 Current Assets $1 1 , 225. 00 $10 , 000. 00 Net PPE $31 , 000. 00 $30, 000. 00 Total Assets $42 , 225. 00 $40 , 000. 00 Current Liabilities 58, 441. 00 $8 , 000 . 00 Long-term debt $13 , 970. 00 $12 , 000. 00 Total Liabilities $2 2 , 411.00 $20, 000. 00 Shareholder Equity $19 , 814.00 $20, 000. 00 Liabilities and Equity $42 , 225. 00 $40, 000 . 00 Income Statement 2018 2017 SALES $11 , 000. 00 $10 , 000. 00 COGS $4 , 400.00 $4, 000. 00 GROSS PROFIT $6 , 600. 00 56, 000. 00 SQA $1 , 100. 00 $1 ,000. 00 Depreciation $550.00 $500. 00 EBIT $4 , 950.00 $4 , 500.00 INTEREST $1 , 272.00 $1 , 200. 00 EBT $3 , 678. 00 $3 , 300. 00 TAXES ( 36.00% ) $1 , 324.08 $1 , 188. 00 NET INCOME $2 , 353.92 $2 , 112.00