Use the following information for Taco Swell, Inc., (assume the tax rate is 30 percent):

	2014			2015
Sales	$	17,573		$	16,536
Depreciation		1,781			1,856
Cost of goods sold		4,579			4,827
Other expenses		1,006			884
Interest		855			986
Cash		6,247			6,826
Accounts receivable		8,160			9,787
Short-term notes payable		1,290			1,267
Long-term debt		20,680			24,936
Net fixed assets		51,152			54,633
Accounts payable		4,576			5,004
Inventory		14,487			15,408
Dividends		1,550			1,738
Common & Paid-In Equity		Info Not Provided			Info Not Provided

Prepare a balance sheet of this company for the current year and past year. Note: You must use the balance sheet identity to determine owner's equity. For the exam, you must know which accounts belong on the balance sheet and income statement, and in what order. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.)

Prepare a balance sheet of this company for the current year and past year. Note: You must use the balance sheet identity to determine owner's equity. For the exam, you must know which accounts belong on the balance sheet and income statement, and in what order. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.) TACO SWELL, INC. Balance Sheet as of Dec. 31 Last Year This Year $ Assets (Click to select) (Click to select) (Click to select) Current assets (Click to select) Total assets $ Liabilities $ $ (Click to select) (Click to select) $ $ Current liabilities (Click to select) (Click to select) Total liabilities & owners' equity $ $ Prepare an income statement for this company for the current year and last year. Note: If net income transferred to retained earnings in the current year does not match the change in owner's equity on the two balance sheets, the company either issued or repurchased shares of stock. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16. Input all amounts as positive values.) TACO SWELL, INC. Income Statement Last Year Current Year $ Sales COGS Other expenses Depreciation $ EBIT Interest $ $ EBT Taxes (30%) Net income $ $ $ $ Dividends Additions to RE