Income Statement

Sales
Cost of Goods Sold
Gross Profit
Selling Expense
Administrative Expense
Amortization Expense
Earning before Interest and Tax
Interest Expense
Earning before Tax
Tax @ 20%
Earnings after Tax

2016
5,000
3,700
1,300
240
350
80
630
80
550
110
440

2015
4,500
3,300
1,200
230
400
70
500
50
450
90
360

Marks
1
1
1
1
1
1
1
1
1
1
1

Statement of Retained Earnings

Retained Earnings - Opening
Add: Earnings Available to Common Shareholders
Deduct Cash Dividends Declared
Retained Earnings - Closing

2016
825
440
250
1,015

1
1
1
1

Balance Sheet
2016

2015

Current Assets:
Cash
Term Deposits
Account Receivable
Inventory
Total Current Assets

110
450
550
1,110

50
50
400
500
1,000

1
1
1
1
1

Property Plant and Equipment:

Land
Buildings
Machinery
Equipment
Vehicles
Furniture
Accumulated Amortization
Net Plant and Equipment
Total Assets

200
450
500
200
125
150
(280)
1,345
2,455

200
400
400
100
75
100
(200)
1,075
2,075

1
1
1
1
1
1
1
1
1

250
40
250
540

200
50
200
450

1
1
1
1

Long Term Liabilities:

Long Term Debt
Total Liabilities

500
1,040

500
950

1
1

Shareholders Equity:
Common Shares
Preferred Shares
Retained Earnings
Total Shareholder Equity
Total Liabilities and Shareholder Equity

400
1,015
1,415
2,455

300
825
1,125
2,075

40

Current Liabilities:
Accounts Payable
Accruals
Line of Credit
Total Current Liabilities

2
1
1