1. Use the information below to construct a 2014 income statement and balance sheets for both years. The average tax rate is 34% and the dividend payout ratio is 35%. Round all numbers to the nearest dollar.

	2013	2014
Sales		$3,756
Cost of Goods Sold		$2,453
Depreciation Expense		$490
Interest Expense		$613
Current Assets	$768	$648
Total Fixed Assets	$7,000	$7,616
Accumulated Depreciation	$1,772	This can be determined from the information given
Current Liabilities	$1,536	$1,183
Long-term Debt	$1,804	$2,077
Common Stock	$300	This can be determined from the information given