TABLE 4–4 Moderately Large Corporation Consolidated Balance Sheet Moderately Large Corporation Consolidaed Balance Sheet (in thousands except share data) Fiscal Year Ended Dec. 31, 2013 Dec. 31, 2012 ASSETS Current assets: Cash and cash equivalents Accounts receivable, net $1,369 1,008 1,489 157 44 4,066 3,137 $1,427 876 481 126 40 2,950 2,287 161 $5,398 Inventories Prepaid expenses and other current assets Deferred income taxes, net Total current assets Property, plant and equipment, net Other assets TOTAL ASSETSS 168 $7,371 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable Accrued compensation and related costs Accrued taxes Current portion of long-term debt Total current liabilities Long-term debt Total liabilities $429 104 132 89 754 2,630 3,384 $242 98 141 82 563 1,830 2,392 Shareholders' equity: Common stock ($0.1 par value)-authorized, 4,000,000 shares; issued and outstanding, 3,500,000. Paid-in capital in excess of par Retained earnings Total shareholders' equity 350 350 2,415 1,222 3,987 $7,371 2,415 241 3,006 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $5,398 TABLE 4-7| Moderately Large Corporation Consolidated Statement of Earnings Consolidated Statement of Earnings (in thousands, except earning per share) Fiscal Year Ended: Dec. 31, 2013 Dec. 31, 2012 Dec. 31, 2011 Net revenues Cash Sales Credit Sales Total Net Revenues $2,888 6,046 8,935 $2,751 5,258 8,009 $2,456 4,572 7,028 Cost of Sales Gross Profit 5,361 3,574 4,405 3,604 3,725 3,303 Salaries Insurance Depreciation General and administrative expenses Subtotal operating expenses Operating income Interest expense 1,258 155 150 489 2,052 1,522 10 1,183 116 135 479 1,913 1,691 11 1,112 93 122 361 1,687 1,616 11 Earnings before income taxes Income taxes 1,512 529 1,680 588 1,605 562 $ 983 Net Earnings Per Common Share Net Earnings Basic Net Earnings Diluted $1,092 $1,043 $ 0.28 $ 0.25 $ 0.31 $ 0.27 $ 0.30 $ 0.26 Weighted average shares outstanding: Basic Diluted 3,500 4,000 3,500 4,000 3,500 4,000