You were recently hired by E&T Boats, Inc. to assist the company with its financial planning and to evaluate the company's performance. E&T Boats, Inc. builds and sells boats to order, which they can build in less than five weeks from start to finish. E&T sell five different types of boats ranging in price and cost. You have been given the following financial information for E&T Boats, Inc.: E&T Boats, Inc. 2015 Income Statement Sales Cost of goods sold Other expenses Depreciation Interest Net income S13,780,000 8,080,000 1,540,000 440,000 E&T Boats, Inc. 2015 Balance Statement Asset: Current assets Liabilities and Equity Current Liabilities Cash Accounts Receivable Inventory S.254.000 425,000 Accounts Payable Notes Payable S..595.000 1.000,000 S1,595,000 47 Total current liabilities Total current assets 1.154,000 S2,500,000 Long-term debt Shareholder equity Fixed assets Net plant and equipment 56.025.000 S.100.000 2,984,000 S3,084.000 179,000 Common stock Retained Earnings Total Equity Total liabilities and equity Total assets The following additional information was also given to you: Average inventory Average total assets Average shareholder's equity S. .382000 S7,075,000 S3,005,000