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 2017?
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 2018? How much in total resources did the company have at the end of 2016?
d. At the end of 2016, how much did the company owe outsiders? At the end of 2017, 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) 2017 2016 Statement of Income Revenues Cost of goods sold Other expenses Income before income taxes Income taxes Net income 94,500 a 65,400 13,550 9,300 3,450 15,660 5,645 1,975 Statement of Retained Earnings Beginning balance Net income S m $10,000 (480) (450) Ending balance Balance Sheet Assets: Cash S 400 P 23,790 Capital assets Other assets 17,900 S r$38,500 Total a Liabilities: 11,100 $10,000 12,500 Current liabilities Long-term debt and other liabilities Total liabilities 24,500 Liabilities: Current liabilities $11,100 $10,000 12,500 Long-term debt and other liabilities Total liabilities Shareholders' Equity: Common shares. 24,500 $ 400 600 Retained earnings Total shareholders' equity Total liabilities and shareholders' equity LI 16,000 Statement of Cash Flows Net cash provided by operating activities Net cash used for investing activities Net cash provided by financing activities $ W 3,600 (2,700 (4,150) 900 250 Increase (decrease) in cash. Cash at beginning of year Cash at end of year 50 50