The document contains the income statements and balance sheets for Zigoscar Corporation for 2014 and 2013. The income statement shows that net sales increased slightly from 2013 to 2014 while costs also increased, resulting in higher income from operations and net income. The balance sheet shows that assets increased slightly from 2013 to 2014, with increases in cash and receivables offsetting decreases in inventory. Liabilities decreased overall due to paying down accounts payable and notes payable, while also taking on long term bonds payable.

1. Zigoscar Corporation
Comparative Income Statements
For the years ended December 31, 2014 and 2013
2014
2013
Net Sales
6,553,600

2. 6,292,800
Cost of goods sold
4,177,600
4,016,800
Gross Margin
2,376,000
2,276,000
Operating expenses:
Selling Expenses
953,600
1,036,000
Administrative expenses
894,400
846,400
Total Expenses
1,848,000
1,882,400
Income from operations
528,000

3. 696,900
Interest Expense
131,200
78,400
Income before taxes
396,800
315,200.00
Income tax expense
124,800
113,600
Net Income
272,000
21,600
Earnings per share
3.40
2.52

4. Zigoscar Corporation
Comparative Balance Sheets
December 31, 2014 and 2013

5. 2014
2013
Assets
Cash
162,400
81,600
Accounts receivable (net)
471,200
458,400
Inventory
1,149,600
1,189,600
Property, Plant & Equip (net)
1,500,000
1,440,000
Total Assets

6. 3,283,200
3,169,600
Liabilities and Stockholders Equity
Accounts payable
535,200.00
954,400.00
Notes payable (short term)
400,000
800,000
Bonds payable
800,000
-
Common stock, $10 par value
800,000
800,000
Retained earnings
748,000
615,200
Total Liab. & Stockholders Equity
3,283,200

7. 3,169,600