From the balance sheets and income statements of Baxter Distribution Company Ltd, complete the financial ratio worksheet and prepare a statement of cash flows for the two years ending November 30, 2018.

FINANCIAL MANAGEMENT ANALYSIS EXERCISES Net sales Cost of sales Gross income Exercise 1 Baxter Distribution Company Ltd. Income Statement for the years ending November 30 (in 000s of dollars) Operating expenses: Bad debt expense General and administrative expense Salaries. Selling expense Depreciation Total operating expenses Income from operations Plus: other income Less: interest expense Income before tax Income tax Net income after tax- 2018 S 32,624 22.520 $ 10,104 S 108 1,012 4,420 1,320 416 $ 7,276 $ 2,828 444 412 $ 2,860 1,312 1,548 2017 S 23,544 16.492 7,052 S S 20 828 3,280 888 264 $ 5,280 $ 1,772 552 220 $ 2,104 972 S 1.132 2016 $ 19,436 14,284 $ 5,152 S $ S $ 264 736 2,776 752 264 4,792 360 396 248 508 248 260