G's 2013 and 2014 balance sheets and 2014 income statement follow:

                                                                                                                                            12-31-13                      12-31-14   

            Cash                                                                                                                         $100,000                       $150,000

            Receivables from customers, net                                                                          400,000                         440,000

            Prepaid operating expenses                                                                                    200,000                         260,000

            Plant assets                                                                                                                900,000                         990,000

            Accumulated depreciation                                                                                     (250,000)                      (320,000)

            Intangible assets                                                                                                         150,000                         190,000

                                                                                                                                             $1,500,000                   $1,710,000

            Accrued liabilities for operating expenses                                                            415,645                           51,257

            Unearned revenue                                                                                                    100,000                           20,000       

            Dividends payable                                                                                                                0                         100,000       

            Bonds payable                                                                                                          500,000                         500,000

            Discount on bonds payable                                                                                   (25,645)                         (21,880)

            Asset retirement obligation                                                                                                  0                         125,623       

            Common stock ($1 par value)                                                                                 25,000                           35,000

            Additional paid-in-capital, common stock                                                          235,000                         500,000

            Retained earnings                                                                                                     250,000                         400,000

                                                                                                                                           $1,500,000                   $1,710,000

Sales                                                                          $1,600,000

Cost of services provided                                            440,235

Operating expenses                                                      360,000

Loss on plant asset sale                                                 15,000

Impairment loss on plant assets                                  20,000

Interest expense                                                              23,765

Income before taxes                                                    741,000

Income tax expense                                                    191,000

Net income                                                                 $ 550,000

Additional information for G follows:

• On 01-01-10, G issued $500,000 of its 4%, 10-year term bonds dated 01-01-10. The bonds pay interest every June 30 and December31. At the time the bonds were issued, similar bonds paid 5%. G did not incur any bond issuance costs.
• On 01-01-14, G acquired a fixed asset that will require G to spend an estimated $150,000 to dismantle the asset when G retires the asset on 12-31-20. As of 01-01-14 the interest rate on US Treasury securities was 0.5% and G's credit standing still required a 2.5% risk premium.
• During 2014, G issued 10,000 shares of its common stock.
• During 2014, G sold a plant asset that had an original cost of $200,000. At the time of sale, the asset's accumulated depreciation was $175,000.
• As of 12-31-13, G owned several limited-life intangible assets. During 2014, G purchased an unlimited-life intangible asset for $60,000.
• G's 2014 operating expenses includes depreciation, amortization, and accretion expenses.
• During 2014, G declared 4 quarterly dividends, however, G only paid 3 of the quarterly dividends.
• G uses the indirect method.