Some recent financial statements for Earl Grey Golf Corp. follow. EARL GREY GOLF CORP 2014 and 2015 Statement of Financial Position Assets Liabilities and Owners' Equity 2014 2015 2014 2015 Current assets Current liabilities Cash Accounts receivable Inventory $ 24,046 12,448 25,392 $ 24,255 15,235 27,155 Accounts payable Notes payable Other $ 23,184 12,000 11,571 $ 27,420 10,800 15,553 Total $61,886 $66,645 Total Long-term debt Owners' equity S 46,755 $ 53,775 $ 80,000 $ 95,000 $ 40,000 Common stock and paid-in surplus Retained earnings $ 40,000 219,826 $259,826 $386,581 243,606 $283,606 $432,379 Fixed assets Net plant and equipment $324,695 $365,734 Total Total assets $386,581 $432,379 Total liabilities and owners' equity EARL GREY GOLF, INC 2015 Statement of Comprehensive Income Sales Cost of goods sold Depreciation $366,996 253,122 32,220 Earnings before interest and taxes $ 81,654 Interest paid 14,300 Taxable income Taxes (35%) $ 67,354 23,574 Net income $ 43,780 Dividends Additions to retained earnings $20,000 23,780