SMOLIRA GOLF, INC Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 2016 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash Accounts receivable Inventory $ 3,061 $3,057 5,731 13,732 $20,381 22,520 Accounts payable Notes payable Other $ 2,178 $ 2,650 2,166 112 $4,048$ 4,928 $12,900 15,660 4,742 12,578 1,775 95 Total Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $40,500 40,500 39,477 $56,179 $ 79,977 $73,127 $100,565 Fixed assets 15,679 Net plant and equipment Total assets Total $52,746 $ 78,045 $73,127 $100,565 Total liabilities and owners' equity SMOLIRA GOLF, INC 2016 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income laxes Net income $188,370 126,703 5.283 $ 56,384 1,380 $ 55,004 19,251 $ 35,753 Dividends Retained earnings $11,955 23,798