Use the financial statements shown below to answer the next seven (7) quest Coffee-Time Corporation Comparative Balance Sheet (in millions of S) 12-31-17 12-31-16 ASSETS: Cash $ 281 157 Marketable securities Accounts receivable 288 Inventories 692 Other current assets Total Current Assets $ 1,696 2,281 2,890 Property & Equipment (net) Other assets Total Assets $5.344 $ 4,42 +258 $ 391 Accounts payable Short-term bank loans Accrued payables Other current liabilities Total Current Liabilities Long-term liabilities Total Liabilities 710 757 298 $ 2,156 904 $3.060 $ 341 700 662 233 $1,93 265 $2.201 $ 40 2.188 Common Stock (4 million shares) Retained Earnings Total Stockholder's Equity Total Liabilities & St. Equity $ 40 2.244 $ 2.284 $5,344 $2.228 $ 4,429 Coffee-Time Corporation Income Statement (in million of $) Sales (all on account) Cost of Goods Sold Gross Margin Selling and Administrative Expenses Operating Income Plus Other income Less Interest expense Income before taxes Income tax expense (40%) Net Income RE1231-2017 $ 9,400 3.990 $5,410 4.400 $ 1,010 206 196) $ 1,120 448 $ 672 Use the financial statements shown below to answer the next seven (7) quest Coffee-Time Corporation Comparative Balance Sheet (in millions of S) 12-31-17 12-31-16 ASSETS: Cash $ 281 157 Marketable securities Accounts receivable 288 Inventories 692 Other current assets Total Current Assets $ 1,696 2,281 2,890 Property & Equipment (net) Other assets Total Assets $5.344 $ 4,42 +258 $ 391 Accounts payable Short-term bank loans Accrued payables Other current liabilities Total Current Liabilities Long-term liabilities Total Liabilities 710 757 298 $ 2,156 904 $3.060 $ 341 700 662 233 $1,93 265 $2.201 $ 40 2.188 Common Stock (4 million shares) Retained Earnings Total Stockholder's Equity Total Liabilities & St. Equity $ 40 2.244 $ 2.284 $5,344 $2.228 $ 4,429 Coffee-Time Corporation Income Statement (in million of $) Sales (all on account) Cost of Goods Sold Gross Margin Selling and Administrative Expenses Operating Income Plus Other income Less Interest expense Income before taxes Income tax expense (40%) Net Income RE1231-2017 $ 9,400 3.990 $5,410 4.400 $ 1,010 206 196) $ 1,120 448 $ 672