inventory for 2015 85,000 Ques . Profitability - market value dividend 2016 60,000 .LiquidIty . solvency Snoopy Ltd. Snoopy Ltd. Balance Sheet Income Statement As at December 31, 2016 For the year ended December 31, 2016 Sales * $2,454,000 Cash $27,000 Cost of Goods Sold 1,594,000 Accounts Receivable(net)*** 262,000 Gross Margin 860,000 Inventory 110,000 Operating Expenses 632,000 Prepaid Expenses 7,000 Depreciation Expense 31,000 Plant and Equipment(net) 704,000 Operating Income 197,000 $1,110,000 Interest Expense 43,000 Accounts Payable & Accrued Liabilities $173,000 Income before Income Tax 154,000 Long-term Debt 310,000 Income Tax Expense 62,000 Common Shares** 200,000 Retained Earnings 92,000 427,000 Net Income(Loss) $1,110,000 ** Avg. common shares issued and outstanding 25,000 shares * all Sales made on credit *** A/R for 2015 was 230,000 Equity for 2015 was $620,000 Total assets for 2015 was 1,000,000 inventory for 2015 112,000 dividend 2016 55,000 Gross Profits Sales Revenue- LOGS