Orca Industries Below are the two most recent balance sheets and most recent income statement for Orca Industries. The company has an ef fective tax rate of 35%. Balance Sheet 2011 2010 Assets: Cash Accounts Receivable (net) Inventory Long-lived assets Less: Accumulated depreciation 10,000 6,000 1,500 8,000 10,000 12,000 11,000 (4,000)(2000) 32.000 $26.500 6,000 Total assets Liabilities and Stockholders' Equity Accounts payable Deferred revenues Long-term note payable Less: Discount on note payable Common stock Retained earnings 5,000 6,000 2,000 10,000 10,000 (800) (1,000) 6,000 4800 3500 3200 $26.500 1,000 2,000 Total liabilities and stockholders' equity