Question: make a common-size balance sheet and common-size income statement using year 2017 Financial Statements for R&E Supplies, Inc. December 31,2014-2017 ($ thousands) Income Statements 2014
| make a common-size balance sheet and common-size income statement using year 2017 Financial Statements for R&E Supplies, Inc. December 31,2014-2017 ($ thousands) | ||||
| Income Statements | ||||
| 2014 | 2015 | 2016 | 2017 | |
| Net Sales | $ 11,190 | $ 13,764 | $ 16,106 | $ 20,613 |
| Cost of goods sold | $ 9,400 | $ 11,699 | $ 13,688 | $ 17,727 |
| Gross Profit | $ 1,790 | $ 2,065 | $ 2,416 | $ 2,886 |
| Expenses: | ||||
| General, selling, and administrative expenses | $ 1,019 | $ 1,239 | $ 1,610 | $ 2,267 |
| Net interest expense | $ 100 | $ 103 | $ 110 | $ 90 |
| Earnings before tax | $ 671 | $ 723 | $ 696 | $ 529 |
| tax | $ 302 | $ 325 | $ 313 | $ 238 |
| Earnings after tax | $ 369 | $ 398 | $ 383 | $ 291 |
| Balance Sheet | ||||
| Current assets: | ||||
| cash and securities | $ 671 | $ 551 | $ 644 | $ 412 |
| accounts receivable | $ 1,343 | $ 1,789 | $ 2,094 | $ 2,886 |
| inventories | $ 1,119 | $ 1,376 | $ 1,932 | $ 2,267 |
| prepaid expenses | $ 14 | $ 12 | $ 15 | $ 18 |
| total current assets | $ 3,147 | $ 3,728 | $ 4,685 | $ 5,583 |
| net fixed assest | $ 128 | $ 124 | $ 295 | $ 287 |
| total assets | $ 3,275 | $ 2,852 | $ 4,980 | $ 5,870 |
| Liabilities and Owner's Equity | ||||
| Current liabilities | ||||
| Bank Loan | $ 50 | $ 50 | $ 50 | $ 50 |
| Accounts payable | $ 1,007 | $ 1,443 | $ 2,426 | $ 3,212 |
| Current portion long-term debt | $ 60 | $ 50 | $ 50 | $ 100 |
| accrued wages | $ 5 | $ 7 | $ 10 | $ 18 |
| Total current liabilies | $ 1,122 | $ 1,550 | $ 2,536 | $ 3,380 |
| long-term debt | $ 960 | $ 910 | $ 869 | $ 760 |
| common stock | $ 150 | $ 150 | $ 150 | $ 150 |
| retained earnings | $ 1,043 | $ 1,242 | $ 1,434 | $ 1,580 |
| total liabilities and owner's equity | $ 3,275 | $ 3,852 | $ 4,980 | $ 5,870 |
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