ISCOB) xPFI-Critical Thinking Assignme x+ ads/PR-Critical%20Thinking%20 Assignment. pdf (2) Deductive reasoning skill: Deductive reasoning is a logical process in which a conclusion is based on the concordance of multiple premises that are generally assumed to be true. Please watch the video clip provided on Deductive Reasoning Do the following problems (Q1- Q5) and then, answer the last question (06) using the deductive reasoning skill. Use the following information to answer the following questions. ABC, Inc. Income Statement (in thousands) December 31,2014 $200,000 140,000 60,000 56,000 4,000 1,000 3,000 Sales Cost of goods sold Gross profit on sales Operating expenses Operating income (EBIT) Interest expense Eamings before tax Income tax Net income available to common stockholders $1,950 Number of shares outstanding Market price per share 1, 500 S22 ABC, Inc. Balance Sheet (in thousands) December 31, 2014 Assets Cash Accounts receivable Inventories Total current assets Gross fixed assets $2,000 17,800 8,700 28,500 70,000 26,500 Net fixed assets Total assets Liabilities and Equity $72,000 Accounts payable $18,000