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Expectation: breakdown the steps and provide formulas with corresponding variables, thank you PRUFROCK CORPORATION Statement of Comprehensive Income ($ thousands) 2015 Sales $2,311 Cost of

Expectation: breakdown the steps and provide formulas with corresponding variables, thank you

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PRUFROCK CORPORATION Statement of Comprehensive Income ($ thousands) 2015 Sales $2,311 Cost of goods sold 1,344 Depreciation 276 Earnings before interest and taxes $ 691 Interest paid 141 Taxable income $ 550 Taxes 187 Net income $ 363 Addition to retained earnings $242 Dividends 121PRUFROCK CORPORATION Statement of Financial Position as of December 31, 2014 and 2015 ($ thousands) 2014 2015 Change Assets Current assets Cash $ 84 +$14 Accounts receivable 165 188 + Inventory 393 422 + 29 Total $ 642 $ 708 + $66 Fixed assets Net plant and equipment 2,731 2,880 + 149 Total assets $3,373 $3,588 +$215 Liabilities and Owners' Equity Current liabilities Accounts payable $ 312 $ 344 +$ 32 Notes payable 231 196 35 Total $ 543 $ 540 -$ 3 Long-term debt $ 531 $ 457 -$ 74 Owners' equity Common stock 500 550 + 50 Retained earnings 1799 2,041 + 242 Total $2,2qq $2,591 +$292 Total liabilities and owners' equity $3,373 $3.588 +$215

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