Data Table Provincial Imports, Inc. Income Statement for the Year Ended December 31, 2015 Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Operating profits Less: Interest expense Net profits before taxes Less: Taxes (rate = 40%) Net profits after taxes Less: Cash dividends To retained earnings $4,997,000 2,744,000 $2,253,000 851,000 $1,402,000 205,000 $1,197,000 478,800 $718,200 251,370 $466,830 Provincial Imports, Inc. Balance Sheet December 31, 2015 Assets ash Marketable securities Accounts receivable Liabilities and Stockholders' Equity $199,000 Accounts payable 233,000 628,000 491,000 $1,551,000 Taxes payable Notes payable Other current liabilities Total current liabilities $709,000 95,000 199,000 4,500 $1,007,500 507,500 entories otal current assets Net fixed assets 1,410,000 Long-term debt Print Done esc