You are given the partial income statement and balance sheets below, as well as information concerning certain performance measurements on page 2. (If the performance measurements use balance sheet data, the measurements are based on 12/31/17 data.) Fill in all missing data in the income statement and balance sheets. On page 3, calculate the 2016 statement of cash flows.

INCOME STATEMENT, 2017

Revenues
COGS	600
Expenses EXCLUDING Interest	50
EBIT
Interest	50
EBT
Tax @ 40%
Net Income

BALANCE SHEET, 12/31/17 BALANCE SHEET, 12/31/16

Cash	50		30
A/R			40
Inventory			80
Current Assets			150
Gross PP&E			900
Accum. Depre.	200		150
Net PP&E	800		750
Total Assets			900
A/P	30		10
Accruals	20		10
Short Term Debt	50		80
Current Liab.	100		100
Long Term Debt	350		300
Total Liabilities	450		400
Common Stock			100
Retained Earnings			400
Tot. Com. Equity			500
Dividend per Share
# of Common Sh.	100		100

Interest Coverage (Times Interest Earned) = 7

DSO = 18.25 days

Current Ratio = 2

Cash From Operating Activities:

Cash From Investing Activities:

Cash From Financing Activities:

INCOME STATEMENT, 2017

REVENUES	$1,000
COGS EXCL. DEPRECIATION	600
DEPRECIATION	100
GROSS MARGIN (OP. INC.)	300
EXPENSES	200
EBIT	100
INTEREST	50
EBT	50
TAXES @ 40%	20
NET INCOME	30

BALANCE SHEETS

12/31/16	12/31/17
CASH $100	CASH $280
A/R 50	A/R 100
INVENTORIES 90	INVENTORIES 150
CURRENT ASSETS 240	CURRENT ASSETS 530
GROSS PP&E 1,000	GROSS PP&E 1,000
- ACCUM. DEPRE. 300	- ACCUM. DEPRE 400
NET PP&E 700	NET PP&E 600
TOTAL ASSETS 940	TOTAL ASSETS 1,130
A/P 40	A/P 50
ACCRUALS 50	ACCRUALS 50
ST DEBT 50	ST DEBT 100
CURRENT LIAB. 140	CURRENT LIAB. 200
LONG TERM DEBT 400	LONG TERM DEBT 500
TOTAL LIAB. 540	TOTAL LIAB 700
TOTAL EQUITY 400	TOTAL EQUITY 430
TOTAL LIAB.+EQ. 940	TOTAL LIAB.+EQ. 1,130

TOTAL COMMON SH. 200

TOTAL COMMON SH. 200

CURRENT PRICE/SHARE = $10