Some recent financial statements for Smolira Golf, Inc., follow. SHOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 2016 Assets Liabilities and Owners' Equity Current assets Cash Accounts receivable Current liabilities Inventory Total $ 3,211 4,767 12,478 $ 3,307 13,782 5,781 other Accounts payable Notes payable $ 2,153 1,750 $ 2,600 2,116 90 107 $20,456 $22,870 Total $ 3,993 $ 4,823 Long-term debt $13,400 $16,160 Owners' equity Fixed assets Common stock and paid-in surplus Accumulated retained earnings $38,000 $38,000 15,654 39,112 Net plant and equipment Total assets $50,591 $75,225 $71,047 Total $53,654 $77,112 $98,095 Total liabilities and owners' equity $71,047 $98,095 SHOLIRA GOLF, INC. 2016 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income: Dividends $11,905 Retained earnings 23,458 $187,370 126,203. 5,393 $ 55,834 1,430 $ 54,404 19,041 $ 35,363 stal in not rous