Condensed versions of Your Phone Ltd.'s financial statements, with certain amounts omitted, are given for two years.

Requirements
1. Determine the missing amounts denoted by the letters.
2. Use Your Phone's financial statements to answer these questions about the company. Explain each of your answers.
a. Did operations improve or deteriorate during 2014?
b. What is the company doing with most of its income-retaining it for use in the business or using it for dividends?
c. How much in total resources does the company have to work with as it moves into 2015? How much in total resources did the company have at the end of 2013?
d. At the end of 2013, how much did the company owe outsiders? At the end of 2014, how much did the company owe?
e. What is the company's major source of cash? What is your opinion of the company's ability to generate cash? How is the company using most of its cash? Is the company growing or shrinking?

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(thousands) 2014 2013 Statement of Income Revenues Cost of goods sold Other expenses Income before income taxes Income taxes Net income $94,500 15,660 5,645 1,975 65,400 13,550 9,300 3,450 Statement of Retained Earnings Beginning bal Net income Dividends Ending balance Balance Sheet $10,000 450) Cash Capital assets Other assets S 400 23,790 17,900 $38,500 Total Liabilities: $11,100 24,500 S 400 Current liabilities Long-term debt and other liabilities $10,000 12,500 Total liabilities. Shareholders' Equity: Common shares $ 600 Retained earnings Total shareholders' equity lotal liabilties and shareholders equity Ll 16,000 Statement of Cash Flows Net cash provided by operating activitie Net cash used for investing activities Net cash provided by financing activities 3,600 (4,150) 900 (2,700) 250 50 Increase (decrease) in cash Cash at beginning of year Cash at end of year 50