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Question - Financial statements - The balance sheets at the end of 2018 and 2019 of Kairos Industries are shown below:
A. Financial statements, cash flow and taxes
2019
2018
Cash
$102,950
$89,825
Accounts receivable
103.465
85,627
Inventories
38,544
35,082
Total currents assets
244,959
210,534
Property, plant and equipment
67,265
42,536
Total assets
312,224
253,070
Debts to pay
30,861
23,209
Accumulations
30,577
22,756
Obligations to pay
16,817
14,317
Total current liabilities
78,255
60,282
Long term debts
76,364
64,014
Total liabilities
154,619
124,296
Common actions
100,000
90,100
Retained earnings
57,605
38,874
Total equity
157,605
128,974
Total liabilities plus equity
$312,224
$253,270
Required - In 2019, Kairos Industries achieved sales of $ 330 million and an EBITDA of 17% of sales. Depreciation as amortization of fixed assets was 11% and interest paid $ 2 million. On the other hand, the tax rate was 35% and 38% of net income is allocated to dividends. Make an income statement taking into consideration the data presented.
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