Calculate the Statement of Cash Flows Balance Sheet 2014 2015 2014 2015 Cash $950,254 $453,200 A/P $1,858,489 $2,300,377 A/R $2,134,590 $2,976,578 Inventory $1,897,650 $2,245,678 N/P $880,256 $1,018,826 Total CA $4,982,494 $5,675,456 Total CL $2,738,745 $3,319,203 Net FA $1,458,950 $1,895,264 LT Debt $1,527,449 $1,789,520 Common Stock $1,500,000 $1,500,000 Retained Earnings $675,250 $961,997 Total Assets $6,441,444 $7,570,720 Total Liab. & Equity $6,441,444 $7,570,720 $0 ($0) Income Statement 2015 Revenues $13,854,120 Operations Investments Cost of Goods Sold $10,850,322 Net Income Change in FA Gross Profit $3,003,798 + Depreciation - Deprecaition Expenses $1,562,333 +/- A/R Depreciation $796,540 +/- Inv EBIT $644,925 +/- A/P Interest Expense $123,567 Taxable Income $521,358 Taxes (45%) $234,611 Net Income $286,747.