1.Given the following financial statements:

Flathead Lake Manufacturing Income Statement Sales Cost Of Goods Sold Depreciation Gross Profit Selling and administratwe expenses EBIT Interest Expense Income before tax Taxes Net Income Flathead Lake Manufact Cash Accounts Receivable Inventory Total Current Assets Fixed Assets Total Assets Accounts Payable Bank loans Total current liabilities Bonds payable Total liabilities Balance Sheet Common Stock shares) Retained Earrungs Total Equity Total LJab1ht1es and shareholders' equit s 9n:o 5,750 mo s 3000/10 200 s 375 goo s 225 W) s 570 mo 's 2050000 s 480000 s 1 sooooo momo s 3D0D00 $1 400 s 400 s 7m.o s 1.7mgn s 200000 $2500000