Income Statement for year
					2011		2010
	Net Sales Revenue (all Credit Sales)				230,000		200,000
	Cost of Goods Sold				165,000		150,000
	Gross Profit				65,000		50,000
	Salaries & admin Expense				9,500		10,000
	Depreciation Expense				14,500		14,000
	Income before Tax				41,000		26,000
	Tax expense				11,000		5,000
	Net Income				30,000		21,000
	Shares Outstanding				150,000		150,000
	Stock Price				$15.00		$12.00
	Balance sheet @ year end
					2011		2010
	Current Assets
	Cash				33,000		20,000
	Accounts Receivables, net (2009 ending 20,000)				33,000		14,000
	Inventory (2009 ending 25,000)				27,000		20,000
	Total Current Assets				93,000		54,000
	Property Plant & Equipment				60,000		78,000
	Accumulated depreciation				(29,000)		(24,000)
	Total Assets				124,000		108,000
	Accounts Payable				29,000		15,000
	Income Tax Payable				7,000		8,000
	Total Current Liabilities				36,000		23,000
	Bonds Payable				27,000		33,000
	Total Liabilities				63,000		56,000
	Common Stock				18,000		14,000
	Retained Earnings				43,000		38,000
	Total Liabilities and Shareholders Equity				124,000		108,000
Find:					2011		2010
1	Current Ratio				2.583		2.347
2	Price/Earnings Ratio				75		85.714
3	Accounts Receivable Turnover
4	Inventory Turnover
5	Earning per share (Ignore Dividends)				0.2		0.14
6	Quick ratio (Acid Test)
7	Debt Ratio
8	Do a Horizontal Analysis of the Balance sheet above - difference and % Do it right next to the Balance Sheet
9	Do a Vertical analysis of the Income Statement above Do it right next to the income statement 2011 and 2010
ADDITIONAL INFORMATION
	Dividends declared and paid 25000
	Equipment was sold for 8,500, it was bought for 18,000 and had a book value of 8,500 when sold
	All sales are credit sales
10	In the space below, create the Cash Flow Statement for 2011