Orca Industries Below are the two most recent ba ance sheets and most recent income statement for Orca Industries. The company has an e ective tax rate of 35% Balance Sheet 2011 2010 Assets: Cash Accounts Receivable (net) Inventory Long-lived assets Less: Accumulated depreciation $10,000 6,000 6.000 1.500 8000 10,000 2,00011,000 (4.00012.000) 32.000 $26.500 Total assets Liabilities and Stockholders' Equity: Accounts payable Deferred revenues Long-term note payable Less: Discount on note payable Common stock Retained earnings s 5,000 6,000 2,000 10,000 (800) (1,000) 12,000 6,000 4800 3500 532.000 26.500 1,000 10,000 Total labilities and stockholders' equity