Question: Use the following information for the remaining problems. First, construct an income statement and two balance sheets. Enter all answers as whole dollar numbers with

Use the following information for the remaining problems. First, construct an income statement and two balance sheets. Enter all answers as whole dollar numbers with no $ or commas (e.g. 20000).

2015 Sales = $60,000

2015 COGS = $25,000

2015 SG&A Expense = $10,000

2015 Depreciation Expense = $5,000

2015 Interest Expense = $3,000

Average Tax Rate = 30%

Dividend Payout Ratio = 55%

2015 Current Assets = $24,000 and 2016 Current Assets = $27,000

2015 Net Working Capital = $5,000

Change in Net Working Capital = $1,000

2015 Total Fixed Assets = $100,000

2015 Accumulated Depreciation = $20,000

2015 Net Capital Spending = $12,000

2015 Long-term Debt = $40,000

2015 Common Stock = $22,000

2015 Cash Flow to Creditors = $1,000

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What is the 2015 Net Income?

What is the 2015 Accumulated Retained Earnings?

What is 2016 Accumulated Retained Earnings?

What is 2015 Cash Flow to Shareholders?

What is 2016 Long-term Debt?

What is 2015 Free Cash Flow?

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