How do I get the steps to solve these questions with the tables shown? The answer sheet says the correct answers for

15) a

16) d

Phony Company Income Statement For year ended 12/31/2017 Net Sales Revenue Expenses: Depreciation expense Income tax expense Interest expense Selling & Admin. Exp. Cost of Goods Sold Net Income $200 10 20 30 40 60 $40 Phony Company Balance Sheet As of 12/31/2017 Accounts Receivable, net $180 Buildings 300 Cash 120 Goodwill 40 Inventory 60 100 Treasury Stock TOTAL $800 Phony Company Statement of Cash Flows For year ended 12/31/2017 Receipts: $110 from sale of buildings from issuance of note 150 from customers 190 450 on Capital Expenditures (120) (140) (100) (360) on Selling & Admin costs on Treasury Stock Total Payments Increase in Cash + beginning cash Cash at end of 2017 90 30 $120 Accounts Payable $70 Accruals Payable 130 Accumulated Depreciation 50 Contributed Capital 380 Note Payable (due 2020) 150 Retained Earnings as of 12/31/2017 20 TOTAL $800 Total receipts Payments: 15. The age (not life) of Phony Company's buildings is years. a. 5 b. 10 C. 15 d. 30 16. In 2017, Phony Company had a gross profit margin of a 20% b. 25% c. 30% d. 70%