le 3.1 in Chapter 3 presents financial statements over the period 2014-2017 for R&E Supplies, Inc. a. Construct a sources and uses statement for the company over this period (one statement for all three years). b. What insights, if any, does the sources and uses statement give you about the financial position of R&E Supplies? Please upload your answers through Blackboard, rTABLE 3.1 Financial Statements for R&E Supplies, Inc., December 31, 2014-2017 ($thousands) a 2016 2015 $13,764 11,699 2,065 $16,104 13,688 2,416 2017 $20,613 17,727 2.886 Income Statements 2014 Net sales $11,190 Cost of goods sold 9,400 Gross profit 1,790 Expenses General, selling and administrative expenses 1,019 Net interest expense 100 Earnings before tax 671 Tax 302 Earnings after tax $ 369 1.239 103 723 325 $ 398 1,610 110 696 313 $ 383 2,267 90 529 23 $ 291 Balance Sheets $ Assets Current assets: Cash and securities Accounts receivable Inventories Prepaid expenses Total current assets Net fixed assets Total assets 671 1,343 1.119 $ 551 1,789 1.376 12 3.728 124 $ 3.852 644 2,094 1.932 15 4.685 295 $ 4.980 $ 412 2.886 2.267 18 5,583 287 $ 5,870 3.147 128 $ 3.275 $ $ 50 50 1.007 60 50 Liabilities and Owners' Equity Current liabilities Bank loan Accounts payable Current portion long-term debt Accrued wages Total current liabilities Long-term debt Common stock Retained earnings Totatiabilities and owners' equity 1.122 960 150 1.043 $ 3.275 1,550 910 150 1.242 $ 3.852 $ 50 2.426 50 10 2.536 860 150 1,434 $ 4.980 $ 50 3.212 100 18 3,380 760 150 1.580 $ 5,870