Finance date of Adams Stores, Inc. for the year ending 2016 and 2017.

	2016	2017
Sales	3,432,000	5,834,400
Cash	9,000	7,282
Other Expenses	340,000	720,000
Retained Earnings	203,768	97,632
Long-Term Debt	323,432	1,000,000
Costs of Goods Sold	2,864,000	4,980,000
Depreciation	18,900	116,960
Short-Term investements	48,600	20,000
Fixed Assets	491,000	1,202,950
interest expenses	62,500	176,000
Shares Outstanding (per value = $4.60	100,000	100,000
Market Price of Stock	8.50	6
Accounts Receivable	351,200	632,160
Accounts Payable	145,600	324,000
inventory	715,200	1,287,360
Notes Payable	200,000	720,000
Accumulated Depreciation	146,200	263,160
Accruals	136,000	284,960
Tax Rate	40%	40%

As a group, complete the following activities using the financial information above: Part 1: Financial Statements A. Prepare the income statement for 2016 and 2017. Include statement of retained earnings for 2017

B. Prepare the balance sheet for 2016 and 2017

C. Prepare Common-Size financial statements of income statement and balance sheet.

D. Prepare Statement of Cash Flows