(2) Deductive reasoning skill: Deductive reasoning is a logical process in which a conclusion is premises that are generally assumed to be true. Please based on the concordance of multiple watch the video clip provided on Deductive Reasoning Do the following problems (Q1 Q5) and then, answer the last question (Q6) using the deductive reasoning skill. Use the following information to answer the following questions. ABC, Inc. Income Statement (in thousands) December 31, 2014 Sales Cost of goods sold Gross profit on sales Operating expenses Operating income (EBIT) Interest expense Earnings before tax Income tax Net income available to common stockholders $1.950 Number of shares outstanding Market price per share 200,000 140,000 60,000 56,000 4.000 1,000 3,000 050 1. 500 S22 ABC, Inc. Balance Sheet (in thousands) December 31, 2014 Assets Cash Accounts receivable Inventories Total current assets Gross fixed assets Accumulated depreciation Net fixed assets Total assets $2,000 17,800 8,700 28,500 70,000 26,500 43,500 $72,000 abilitie s payable $18,000