Which of the following statements must be CORRECT? Please use the information provided in the sheet attached here.

		All statements are correct
		Lowell repaid long-term debt in Year 1
		Lowell decreased its short-term debt (Notes) in Year 1
		Lowell issued new common stock in Year 1

INCOME STATEMENT Revenue Cost of goods sold Gross profit Year o 5,323 2,943 2,380 197 1,410 773 110 Year 1 6,477 3,568 2,909 280 1,637 992 210 Depreciation Other expenses Operating income Interest Expense Income before taxes Provision for income taxes @ 21% 663 139 782 164 Net income 524 618 Year 0 Year 1 BALANCE SHEEET ASSETS Cash and marketable securities Short-Term Investments Receivables Inventories Total Current Assets Total Fixed Assets 191 749 736 278 1,954 2,890 139 754 805 280 1,978 2,980 Total assets 4,844 4,958 LIABILITIES AND EQUITY Notes Payable Accounts payable Accruals 363 177 591 215 560 Total current liabilities Total non-current liabilities 1,131 1,410 775 1,166 Total liabilities 2,541 1,941 Common stock and additional paid-in capital Retained earnings 709 1,594 864 2,153 Total stockholders' equity 2,303 3,017 Total liabilities and stockholders' equity 4,844 4,958 89.58 114 Diluted no. of shares Stock price WACC Dividend & repurchases per share 78.37 123 7.00% 0.75 $