Use the following information for the remaining questions: 2015 275 250 325 The tax rate is 40%. The Company pays 50% of Net Income in Dividends and keeps the rest in Retained Earnings. 500 2016 475 522 225 550 6,250 220 1,825 160 925 Accounts Payable Accounts Receivable Cash Common Stock Cost of Goods Sold Depreciation Plant & Equipment Interest Inventory Land & Buildings Long-Term Debt Retained Earnings Sales Revenue Selling, General Admin 1,400 780 850 1,475 950 1,575 1,355 8,750 480 15. From the information provided, create a 2016 Income Statement and calculate dividends. 16. From the information provided, create a Balance Sheet for 2015 and 2016