Table 1 Gillian Pool & Spa Supplies Balance Sheet 2011 2013 2012 2014 2015 ASSETS $155,000 $309,099 $75,948 $28,826 $18,425 Cash and Marketable Securities Accounts Receivable 10,000 12,000 20,000 77,653 90,078 Inventory 250,000 270,000 500,000 520,000 560,000 $415,000 $591,099 $595,948 $626,480 $668,503 Current Assets Land, Buildings, Plant, and Equipment $250,000 $250,000 $500,000 $500,000 $500,000 Accumulated Depreciation -25,000 -50,000 -100,000 -150,000 -200,000 $225,000 $200,000 $400,000 $350,000 $300,000 Net Fixed Assets $640,000 $791,099 $995,948 $976,480 $968,503 Total Assets LIABILITIES AND EQUITIES $50,000 $145,000 $140,000 $148,000 $148,000 Short-Term Bank Loans Accounts Payable 10,506 10,000 19,998 15,995 16,795 Accruals 5,000 5,100 7,331 9,301 11,626 $65,000 $160,606 $167,329 $173,296 $176,421 Current Liabilities $63,366 $98,000 $196,000 $190,000 $183,000 Long-Term Bank Loans 175,000 173,000 271,000 268,000 264,000 Mortgage $238,366 $271,000 $467,000 $458,000 $447,000 Long-Term Debt $303,366 $431,606 $634,329 $631,296 $623,421 Total Liabilities Common Stock (100,000 shares) $320,000 $320,000 $320,000 $320,000 $320,000 25,082 Retained Earnings 16,634 39,493 41,619 25,184 $336,634 $359,493 $361,619 $345,184 $345,082 Total Equity Total Liabilities $640,000 $791,099 $995,948 $976,480 $968,503 and Equity Table 2 Gillian Pool & Spa Supplies Income Statements 2011 2012 2013 2014 2015 Net Sales $900,000 $982,500 $1,170,000 $1,310,400 $1,520,064 Cost of Goods Sold 1,100,736 729,000 801,900 962,280 1,305,000 $171,000 $180,600 $207,720 $209,664 $215,064 Gross Profit $45,000 $58,950 $64,350 $91,204 Admin and $72,072 Selling Exp Depreciation 37,500 40,000 50,000 50,000 50,000 14,414 Miscellaneous 3,041 3,557 4,680 22,801 Expenses $102,507 $136,486 $164,005 $85,541 $119,030 Total Operating Exp $85,460 $78,093 $88,690 $73,178 $51,059 EBIT $9,600 $9,600 $9,600 $17,760 $17,760 Interest on ST Loans 5,400 Interest on LT 5,400 5,400 13,500 16,470 Loans 16,000 13,840 12,240 21,440 21,120 Interest on Mortgage $31,000 $28,840 $27,240 $52,700 $55,350 Total Interest Before-Tax $54,460 $49,253 $61,450 $20,478 ($4,291) Earnings 21,784 8,191 Тахes 19,701 24,580 -1,716 $32,676 $29,552 $36,870 $12,287 ($2,574) Net Income Dividends on Stock Additions to $32,676 $29,552 $36,870 Retained $12,287 ($2,574) Earnings