Here are simplified financial statements for Watervan Corporation INCOME STATEMENT (Figures in s millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax Taxes Net income $ 881 741 3 1 $ 109 12 $ 97 34 S 63 BALANCE SHEET (Figures in millions) End of Start Year of Year Assets $ 369 312 Current assets Lonq-term assets 258 Total assets 627 534 Liabilities and shareholdersequity Current liabilities Long-term debt Shareholders' equity 194 157 108 325256 121 Total liabilities and shareholders' equity S627 534