Please prepare a balance sheet as of December 31, 2014 and an income statement for the year ending December 31, 2014 for the Coronado Manufacturing Company. Please calculate the balance in the Retained Earnings account as of December 31, 2013 AND December 31, 2014. (The company paid no dividends during 2014.)

Account balances as of December 31, 2014

Operating Expenses (SG&A)	$220,000
Interest Expense	$40,000
Cost of Goods Sold	$500,000
Gross Sales	$810,000
Sales Discounts	$10,000
Taxes	$20,000
Accounts Receivable	$100,000
Machinery and Equipment	$700,000
Accumlated Depreciation	$236,000
Notes Payable (Short Term)	$100,000
Raw Materials Inventory	$10,000
WIP Inventory	$50,000
Finished Goods Inventory	$30,000
Accounts Payable	$90,000
Long-Term Debt	$160,000
Common Stock	$100,000
A.P.I.C.	$200,000
Cash	$46,000
Retained Earnings 12/31/13	?
Retained Earnings 12/31/14	?