Calculate the CFFA. .

1. Calculate the CFFA.
Balance Sheet $150,000
2014 2015 2014 2015
Cash $150,000 $165,900 A/P $340,250 $373,827
A/R $420,600 $569,600
Inventory $360,700 $495,250 N/P $235,400 $255,800
Total CA $931,300 $1,230,750 Total CL $575,650 $629,627
Net FA $1,450,200 $1,460,680 LT Debt $1,350,100 $1,385,200
Equity $455,750 $676,603
Total Assets $2,381,500 $2,691,430
Total Liab. &
Equity
$2,381,500 $2,691,430
$0 ($0)
Income Statement 2015
Revenues $2,700,600
Cost of Goods Sold (-
)
$1,840,500
Gross Profit $860,100
Expenses (-) $354,667
Depreciation (-) $102,345
EBIT $403,088
Interest Expense (-) $35,000
Taxable Income $368,088
Taxes (40%) (-) $147,235
Net Income $220,853