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Solution: The workings of Income Statement and Project Balance Sheet is as under:-
| Income Statement | 2015 | 2016 | 2017 |
| Sales | 10400000 | 11500000 | 11500000 |
| Profit Margin | 322400 | 356500 | 356500 |
| DPO | 178250 | 178250 | |
| Retained Earning | 178250 | 178250 |
| Assets | 2015 | 2016 | 2017 | Liabilities and Stockholders Equity | 2015 | 2016 | 2017 | |
| Cash | $3,98,000.00 | $4,75,000.00 | $4,75,000.00 | Accounts Payable | $14,02,000.00 | $15,75,500.00 | $15,75,500.00 | |
| Marketable Sec | $1,98,000.00 | $1,98,000.00 | $1,98,000.00 | Accruals | $3,99,000.00 | $3,99,000.00 | $4,95,000.00 | |
| Account Receivables | $12,01,000.00 | $13,34,000.00 | $13,34,000.00 | OCL | $79,500.00 | $79,500.00 | $79,500.00 | |
| Inventories | $18,01,000.00 | $20,24,000.00 | $20,24,000.00 | TCL | $18,80,500.00 | $20,54,000.00 | $21,50,000.00 | |
| TCA | $35,98,000.00 | $40,31,000.00 | $40,31,000.00 | Long Term Debt | $19,95,500.00 | $19,95,500.00 | $19,95,500.00 | |
| Net Fixed Assets | $39,95,000.00 | $43,57,000.00 | $48,27,000.00 | Common Stock | $37,17,000.00 | $37,17,000.00 | $37,17,000.00 | |
| Total Assets | $75,93,000.00 | $83,88,000.00 | $88,58,000.00 | Net Profit | $0.00 | $1,78,250.00 | $3,56,500.00 | |
| External Fund Required | $0.00 | $4,43,250.00 | $6,39,000.00 | |||||
| Total Liabilities and Stock holders Equity | $75,93,000.00 | $83,88,000.00 | $88,58,000.00 |
Thus Common Stock will be $37,17,000.00; Retained Earning: for 2017: $3,56,500.00, External Funds required for 2017: $ 6,39,000.00 and Total Liabilities and Stock Holders Equity: $88,58,000.00
Ans for Multiple choice question is option (b).
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