Use the following information for Ingersoll, Inc., (assume the tax rate is 40 percent):

2014 2015

Sales $9,735 $10,309

Depreciation 1,315 1,316

Cost of goods sold 2,886 3,250

Other expenses 829 724

Interest 715 793

Cash 4,299 5,393

Accounts receivable 5,629 6,317

Short-term notes payable 984 936

Long-term debt 15,450 17,950

Net fixed assets 36,355 37,557

Accounts payable 4,696 4,375

Inventory 9,860 10,128

Dividends 1,146 1,241

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Prepare an income statement for this company for 2014 and 2015. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16.)

Ingersoll, Inc.,

Income Statement

2014 2015

___________________ $____ $____

___________________ $____ $____

___________________ $____ $____

___________________ $____ $____

___________________ $____ $____

___________________ ____ ____

Prepare the balance sheet for this company for 2014 and 2015. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.)

Ingersoll, Inc.

Balance Sheet as of Dec. 31

2014 2015

Assets

__________ $_____ $_____

__________ _____ _____

__________ _____ _____

Current Assets $____ $____

____ ____

Total assets $____ $____

Liabilities $____ $____

____ ____

Current liabilities $____ $____

____ ____

____ ____

Total liabilities & owners' equity $____ $____