Using the information in the below table, prepare a classified balance sheet for Arrow Company as of December 31, 2014 and December 31, 2015, along with multi-step income statements for the years then ended.

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Account Property, plant, and equipment (net) Long-term debt Depreciation expense.. Retained earnings Sales revenue... December 31, 2014 December 31, 2015 $ 650 $ 735 490 690 50 60 130 295 1,000 1,500 Income taxes 50 70 Current portion of long-term debt 50 70 Total current liabilities.. 130 160 Inventory.. 125 300 Cost of goods sold. 600 900 Cash.. 100 140 Selling, general, and administrative expenses 175 290 Other current assets.. 40 40 Accounts receivable. 135 230 Interest expense. 25 50. Dividends Accounts payable. Common stock. 20 25. 80 90 300 300