1. Create Income Statement for 2014 & 2015

2. Create Balance Sheet for 2014 & 2015

3. Create Cash Flow Statement for 2015

Please show answers and formulas.

2014 2015

Accounts Payable $2,065,168 $3,732,362

Accounts Receivable 47,677,904 53,413,866

Cash 5,786,943 1,260,691

Common Stock 27,280,000 27,280,000

Cost of Goods Sold 45,014,348 50,298,751

Depreciation Expense 975,000 975,000

Dividends 1,200,000 1,200,000

Interest Expense 90,430 103,266

Inventory 8,399,133 8,989,075

Long-Term Debt 0 0

Notes Payable 0 ?

Other Current Liabilities 5,209,356 4,320,784

Net Property, Plant & Equip. 9,295,976 11,608,208

Retained Earnings ? ?

Revenue 56,611,367 56,775,078

Selling, General, & Admin. 6,165,153 4,742,619

Total Assets ? ?

Tax Rate = 20%