Reconciling cash budget, income statement, and balance sheet

You are given the following information about a firm for 2014 ($ 000):

Cash budget Other information

Collection from customers: + $ 65,000 Sales: $ 70,000

Payments to suppliers: - $ 30,000 Cost of materials $ 35,000

Labor - $ 12,000 Cost of goods sold $ 55,000

SG&A - $ 4,000 Depreciation $ 10,000

Tax payments - $ 3,000 Tax rate = 40%

Interest payment - $ 4,000

Dividend paid -$ 3,000

Debt issued $2,000

Capex - $ 5,000 Dividend $ 3,000

Net CF $ 6,000 Purchases of materials $ 33,000

Construct the income statement for 2014 and provide the balance sheet at the end of 2014.

	2013	2014
Cash	$5,000
A/R	$6,000
Raw Materials	$7,000
Finished Goods	$3,000
FA	$100,000
- Accum. depreciation	$20,000
NFA	$80,000
Total Assets	$101,000
A/P	$15,000
Accrued taxes	$1,500
Debt	$50,500
Common Stock	$25,000
Earned surplus	$9,000
Total Liabilities and Equity	$101,000

Income Statement (write below)