2011 2010

Sales 130,000 100,000

COGS 80,000 69,000
Gross Profit 50,000 31,000
Operating Expense 30,000 25,000
Income before tax 20,000 6,000
Income tax expense 6,000 1,800
Net income 14,000 4,200
earning per share 1.40 0.42

Retained earning statement

2011 2010
Beginning RE 19500 15000
adjustment -11200 -4900
8300 10100
Net income 14000 4200
Dividens -10000 -6000
Ending RE 12300 8300

Balanced Sheet
2011 2010 2011 2010
Cash 10000 9000 Acc Payable 4500 3000
Inventory 24000 22000 Income tax 6000 1800
Other Assets 70800 64100 Deferred tax 0 0
Common stock 82000 82000
Retained earnings 12300 8300

104800 95100 104800 95100

2008 2009 2010 2011

Net income 140000 160000 205000 276000
-10000 5000 10000 -16000
15000 -14000 60000
145000 165000 201000 320000