Reference the following financial information for Vikings Corp:

$20132014$

Revenue $$4,000$ $$4,100$

Cost of goods sold $1,6001,700$

Depreciation $500520$

Inventories $300350$

Administrative expenses $500550$

Interest expense $150150$

Federal and state taxes $(1)400420$

Accounts payable $300350$

Accounts receivable $400450$

Net fixed assets $(2)5,0005,800$

Long$-$term debt $2,0002,400$

Notes payable $1,000600$

Dividends paid $410410$

Cash and marketable securities $800300$

$(1)$ Taxes are paid in their entirety in the year that the tax obligation is incurred.

$(2)$ Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed.

$1.$ Income Statement. Construct an income statement for $2013$ and $2014.$ What were reinvested earnings

for $2014?$

$2.$Earnings per Share. Suppose that Vikings Corp has $500,000$ shares outstanding. What were earnings

per share?

$3.$Book value vs$.$ Market value. Suppose that the market value $($in thousands of dollars$)$ of the fixed

assets in $2014$ is $$6,000$ and that the value of its long$-$term debt is only $$2,200.$ In addition, the

consensus among investors is that Viking$$s past investments in developing the skills of employees are

worth $$2,900.$ This investment of course does not show up on the balance sheet. What will be the

price per share of Viking$$s stock? $($Hint: Use the shares outstanding in part $4).$

$4.$Income vs$.$ Cash Flows. Construct a Statement of Cash Flows for $2014$