Some recent financial statements for Smolira Golf, Inc., follow 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 $ 2,791 $2,607 5,641 13,642 $20,246 $ 21,890 Accounts payable Notes payable Other $ 2,223 $ 2,740 2,256 121 $ 4,147$ 5,117 $14,700 $ 17,460 4,697 12,758 1,820 104 Total Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $45,000 45,000 40,134 $60,724$ 85,134 $79,571 $107,711 Fixed assets 15,724 Net plant and equipment Total assets $59,325 $ 85,821 79,571 $107,711 Total Total liabilities and owners' equity SMOLIRA GOLF, INC 2016 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes $190,170 127,603 5,193 $ 57,374 1.290 $ 56,084 19,629 $ 36,455 Net income Dividends Retained earnings $12,045 24,410