Jun. 30, Income Statement Jun. 30, 2015 2014 $762,596 $226,909 Revenue/Sales/Sales on Credit Cost of revenue/Cost of Goods Sold 380,415 119,229 382, 181 107,680 Gross profit Operating expenses: Research and development 52,918 20,897 Sales and marketing 138,557 48,168 General and administrative 27,629 16,060 Change in contingent consideration -7,704 -1240 Total operating expenses 211,400 83,885 Operating income 170,781 23,795 Interest expense, net -846 -861 Other expense, net -58,385 -4,906 Income before income taxes 111,550 18,028 Income tax expense 45,442 12,225 Net income 66,108 5,803 Balance Sheet Jun. 30, 2015 Jun. 30, 2014 Current Assets Cash and cash equivalents 311,276 145,626 Accounts receivable, net 252,023 231,859 Inventories 186,870 115,072 Deferred tax assets 49,625 33,555 Total Current Assets 799,794 526,112 Property and equipment, net 30,945 26,435 Goodwill 22,157 Intangible assets, net 13,263 Other assets 12,308 9,890 Total Assets 878,467 562,437 Current Liabilities Accounts payable 143,594 195,666 Deferred revenue 21,346 9,009 Current Portion of Debt 0 19,518 Total Current Liabilities 164,940 224,193 Long Term Debt 0 106,071 Total Liabilities 164,940 330,264 1. Calculate for the given years: a. The operating cycle and Net OperatingCycle 2. Compare and explain why the ratios have changed over the year Equity Aditional Paid-in Capital 490,290 7,979 223,237 224,194 Retained Earnings Total Shareholder Equity 713,527 232,173 Number of Shares 343,928 343,928 Price of the Stock 34.6 30.7