1. Using the data presented below: Big Rock Candy Mountain Mining Co. Income Statements For the Years 2015 and 2016 2016 S369,300 285,400 83,900 26,820 23,340 1,080 32,660 7,685 24,975 9,990 $14,985 2015 $354,000 281,800 72,200 26,360 21,820 1,080 22,940 es S35 Cost of Goods Gross Profit tion Selling & Admin. Expense Other Operating Expense Net Operating Income Earnings Before Taxes Net Income Interest Expense 15,435 6,174 Taxes Notes: Tax Rate Shares Eamings per Share 4000% 52,100 S0.29 40.00% 52,100 S0.18 Big Rock Candy Mountain Mining Co. Balance Sheet For the Year Ended December 31, 2016 2016 2015 Assets Cash Marketable Securities Accounts Receivable Inventory $14,714 $1,841 $41,090 $46,910 $10,300 S550 $42,100 $48,490 S101,440 352,600 S51,200 S301,400 $402,840 Total Current Assets 104,555 SI $388,000 $78,020 $309,980 $414,535 Gross Fixed Assets Accumulated Depreciation Net Plant &Equipment Total Assets Liabilities &Owner's Equity Accrued Expenses Long-term Debt Accounts Payable$35,200 $32,700 $2,850 38,050 $152,700 $190,750 $52,100 $35,440 $158,600 S194,040 $52,100 121,500 12,500 $35,200 $208,800 $414,535 $402,840 Total Current Liabilities Total Liabilities Common Stock ($1.00 par) Additional Paid-in-Capital Retained Earmings $50,185 $223,785 Total Owner's Equity Total Liab. &Owner's Equity