MIDA, Inc. 2010 Income Statement ($ in millions) Net sales Less: Cost of goods sold Less: Depreciation $ 9,000 7,500 500 Earnings before interest and taxes $ 1,000 Less: Interest paid 90 Taxable Income $ 910 Less: Taxes 300 Net income $ 610 MIDA, Inc. 2009 and 2010 Balance Sheets ($ in millions) 2009 2010 2009 2010 Cash $200 $250 Accounts payable $1,250 $1,300 Accounts rec. 900 800 Long-term debt 1,100 1,200 Inventory 1,700 1,600 Common stock $3,300 $3,200 Total $2,800 $2,650 Retained earnings 550 850 Net fixed assets Total assets 3,400 3,900 $6,200 $6,550 Total liab. & equity $ 6,200 $6,550