Some recent financial statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016 2015 2016 Assets Current liabilities 2015 2016 Liabilities and Owners' Equity Current assets 3,271 3,457 2,138 2,570 Cash Accounts payable Accounts receivable 4,782 5,811 Notes payable 1,735 2,086 12,418 13,812 Other 87 104. Inventory $20,471 $23,080 3,960 4,760 Total Tota $13,700 $16,460 Long-term debt Owners' equity $36,500 $36,500 Common stock and paid-in surplus 15,639 Fixed assets Accumulated retained earnings 38,893 $49,328 $73,533 Net plant and equipment $52,139 $75,393 Tota $69,799 $96,613 Total liabilities and owners' equity $69,799 $96,613 Total assets SMOLIRA GOLF, INC 2016 Income Statement $186,770 Sales Cost of goods sold 125,903 5,363 Depreciation 55,504 EBIT Interest paid 1,460 54,044 Taxable income Taxes 18,915 35,129 Net income $11,875 Dividends Retained earnings 23,254