Refer the following table Tia's Trampolines Inc. Comparative Balance Sheet Information November 30 (millions of S) Cash Accounts receivable (net) Plant and equipment (net) Accounts payable Long-term notes payable Preferred shares Common shares Retained earnings 2017 2016 2015 $212 $ 600 $625 287 324 143 1,453 1,600 1,896 67 143 196 972 1292 1,452 172 172 172 652-652 652 89 265 108 The preferred shares are $0.50, non-cumulative 80 million preferred and 320 million common shares were issued and outstanding during each year Tia's Trampolines Inc. Income Statement For Year Ended November 30 (millions of S) 2016 2015 $4, 160 $6 480 $6,800 2,804 4,428 4,652 2017 Net sales Cost of goods sold $1,356 S2,052 S2,148 Gross profit Operating expenses $320 $320 $320 416 1,272 1,468 Depreciation expense Other expenses Total operating expenses 736 1,592 1,788 Profit from operations Interest expense Income tax expense $620 S460 $360 101 111 123 88 82 Profit S367 $236 S161 Required