we have a 19 strong focus on cost control and closely monitor market changes and our liquidity in order to proactively adjust our operating costs , discretionary capital spending , and dividend levels as needed . managing working capital in conjunction with fluctuating demand levels is likewise key . in addition , a long-standing component of our profit sharing incentive bonus plan is that it is linked to our worldwide and business unit performance which is designed to adjust compensation expense as profits change . we continue to maintain a strong balance sheet . our short-term liquidity available , represented as cash and cash equivalents plus the unused amount of our credit facility , was $ 63.7 million at june 30 , 2015 . in addition to the above discussion , management currently considers the following events , trends , and uncertainties to be most important to understanding our financial condition and operating performance : successful execution of the company 's restructuring plan is critical to the company 's future performance . the success of the restructuring initiatives is dependent on accomplishing the plan in a timely and effective manner . a critical component of the restructuring initiatives is the transfer of production among facilities which will result in some manufacturing inefficiencies and excess working capital during the transition period . the company 's restructuring plan is discussed below . we continue to focus on mitigating the impact of raw material commodity pricing pressures . due to the contract and project nature of the furniture markets , fluctuation in the demand for our products and variation in the gross margin on those projects is inherent to our business . effective management of our manufacturing capacity is and will continue to be critical to our success . see below for further details regarding current sales and open order trends . while both the hospitality and office furniture markets are expanding , we continue to see volatility in order rates which in turn can impact our operating results . globalization continues to reshape not only the markets in which we operate but also our key customers and competitors . in addition , demand is increasing for hospitality furniture manufactured in the u.s. , and we are shifting focus of underutilized manufacturing capacity to fill this need . employees throughout our business operations are an integral part of our ability to compete successfully , and the stability of the management team is critical to long-term share owner value . our career development and succession planning processes help to maintain stability in management . spin-off of kimball electronics reported as discontinued operations on october 31 , 2014 ( “ distribution date ” ) , we completed the previously announced spin-off of our electronic manufacturing services ( “ ems ” ) segment by distributing the related shares of kimball electronics , inc. ( “ kimball electronics ” ) , on a pro rata basis , to the company 's share owners of record as of october 22 , 2014 ( the “ record date ” ) . on the distribution date , each of the company 's share owners received three shares of kimball electronics for every four shares of the company held by such share owner on the record date . after the distribution date , the company does not beneficially own any kimball electronics shares and kimball electronics is an independent publicly traded company . in connection with the spin-off of kimball electronics , the company and kimball electronics entered into several agreements covering administrative and tax matters to provide or obtain services on a transitional basis , as needed , for varying periods after the spin-off . the administrative agreements cover various services such as information technology , human resources , taxation , and finance . the company expects all services to be substantially complete within one year after the spin-off . the company distributed $ 63 million of cash to kimball electronics , including the cash held by its foreign facilities , as kimball electronics began operation as an independent company . the cash distribution occurred in several installments immediately preceding the october 31 , 2014 spin-off date or shortly thereafter . the ems business was reclassified to discontinued operations for all periods presented . financial results of the discontinued operations were as follows : replace_table_token_7_th 20 fiscal year 2015 results of operations the following discussion of operating results is based on income from continuing operations and therefore excludes all income statement activity of the discontinued operations . replace_table_token_8_th replace_table_token_9_th fiscal year 2015 net sales were $ 600.9 million compared to fiscal year 2014 net sales of $ 543.8 million , or a 10.5 % increase . increased sales within the commercial , hospitality , government , and healthcare vertical markets more than offset lower sales within the finance and education vertical markets . increased volume and to a lesser extent the positive impact of price increases drove the net sales increase . our hospitality vertical market sales improved over the prior year on strength in sales of both custom and non-custom hospitality furniture . the sales increase in our commercial vertical market was broad based as business conditions remain strong in both day-to-day and project business fueled in part by new product and marketing initiatives . the government vertical market continued to show momentum as government sales steadily recover from recession levels . the sales decline in the finance vertical market was due in part to the trend toward smaller footprint offices and lower cost products being selected . vertical market sales levels can fluctuate depending on the mix of projects in a given year . in fiscal year 2015 we recorded income from continuing operations of $ 11.1 million , or $ 0.29 per class b diluted share , inclusive of $ 3.2 million , or $ 0.08 story_separator_special_tag the timing of severance plan payments is estimated based on the average remaining service life of employees . the fiscal year 2016 amount includes $ 0.7 million for severance payments recorded as a current liability . the timing of warranty payments is estimated based on historical data . the fiscal year 2016 amount includes $ 0.8 million for short-term warranty payments recorded as a current liability . ( d ) excludes $ 3.5 million of long-term unrecognized tax benefits and associated accrued interest and penalties along with deferred tax liabilities and miscellaneous other long-term tax liabilities which are not tied to a contractual obligation and for which the company can not make a reasonably reliable estimate of the period of future payments . ( e ) refer to note 5 - commitments and contingent liabilities of notes to consolidated financial statements for more information regarding operating leases and certain other long-term liabilities . ( f ) purchase obligations are defined as agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms . the amounts listed above for purchase obligations include contractual commitments for items such as raw materials , supplies , capital expenditures , services , and software acquisitions/license commitments . cancellable purchase obligations that we intend to fulfill are also included in the purchase obligations amount listed above through fiscal year 2020. off-balance sheet arrangements we have no off-balance sheet arrangements other than standby letters of credit and operating leases entered into in the normal course of business . these arrangements do not have a material current effect and are not reasonably likely to have a material future effect on our financial condition , results of operations , liquidity , capital expenditures , or capital resources . see note 5 - commitments and contingent liabilities of notes to consolidated financial statements for more information on standby letters of credit . we do not have material exposures to trading activities of non-exchange traded contracts . 27 critical accounting policies kimball 's consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the united states of america . these principles require the use of estimates and assumptions that affect amounts reported and disclosed in the consolidated financial statements and related notes . actual results could differ from these estimates and assumptions . management uses its best judgment in the assumptions used to value these estimates , which are based on current facts and circumstances , prior experience , and other assumptions that are believed to be reasonable . management believes the following critical accounting policies reflect the more significant judgments and estimates used in preparation of our consolidated financial statements and are the policies that are most critical in the portrayal of our financial position and results of operations . management has discussed these critical accounting policies and estimates with the audit committee of the company 's board of directors and with the company 's independent registered public accounting firm . revenue recognition - we recognize revenue when persuasive evidence of an arrangement exists , delivery has occurred , the sales price is fixed or determinable , and collectability is reasonably assured . delivery is not considered to have occurred until the title and the risk of loss passes to the customer according to the terms of the contract . title and risk of loss are transferred upon shipment to or receipt at our customers ' locations , or in limited circumstances , as determined by other specific sales terms of the transaction . shipping and handling fees billed to customers are recorded as sales while the related shipping and handling costs are included in cost of goods sold . we recognize sales net of applicable sales tax . sales returns and allowances - based on estimated product returns and price concessions , a reserve for returns and allowances is recorded at the time of the sales , resulting in a reduction of revenue . these estimates may change over time causing the provisions to be adjusted accordingly . at june 30 , 2015 and june 30 , 2014 , the reserve for returns and allowances was $ 0.8 million and $ 1.3 million ( inclusive of kimball electronics ) , respectively . the returns and allowances reserve approximated 1 % to 2 % of gross trade receivables during fiscal years 2015 and 2014. allowance for doubtful accounts - our estimate for the allowance for credit losses on trade accounts receivable and notes receivable includes analysis of such items as aging , credit worthiness , payment history , and historical bad debt experience . management uses these specific analyses in conjunction with an evaluation of the general economic and market conditions to determine the final allowance for credit losses on the trade accounts receivable and notes receivable . the allowance for doubtful accounts at june 30 , 2015 and june 30 , 2014 was $ 1.0 million and $ 1.8 million ( inclusive of kimball electronics ) , respectively . during the two year period preceding june 30 , 2015 , this reserve approximated 1 % of gross trade accounts receivable prior to the spin-off , and approximated 2 % to 4 % of post-spin gross trade accounts receivable . self-insurance reserves - we are self-insured up to certain limits for auto and general liability , workers ' compensation , and certain employee health benefits such as medical , short-term disability , and dental with the related liabilities included in the accompanying financial statements . our policy is to estimate reserves based upon a number of factors including known claims , estimated incurred but not reported claims , and other analyses , which are based on historical information along with certain assumptions about future events . changes in assumptions for such matters as increased medical costs and changes in actual experience could cause these estimates to change and reserve levels to be adjusted accordingly . at june 30 ,

liquidity and capital resources our june 30 , 2014 balance sheet includes the discontinued operations resulting from the spin-off of kimball electronics while the june 30 , 2015 is post-spin and thus does not include the discontinued operations . likewise the cash flow statement includes kimball electronics activity up to the october 31 , 2014 completion date of the spin-off . our cash and cash equivalents position declined to $ 34.7 million at june 30 , 2015 from $ 136.6 million at june 30 , 2014 , primarily due to the transfer of $ 63.0 million of cash to kimball electronics in conjunction with the spin-off . the remaining decline in cash and cash equivalents was driven by capital expenditures , share repurchases , and dividends as discussed below . working capital at june 30 , 2015 was $ 44.4 million compared to working capital of $ 246.2 million at june 30 , 2014 . the current ratio was 1.4 at june 30 , 2015 and 2.0 at june 30 , 2014 . the change in working capital and current ratio was primarily driven by the spin-off of kimball electronics . kimball 's short-term liquidity available , represented as cash and cash equivalents plus the unused amount of our credit facility , totaled $ 63.7 million at june 30 , 2015 .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources our june 30 , 2014 balance sheet includes the discontinued operations resulting from the spin-off of kimball electronics while the june 30 , 2015 is post-spin and thus does not include the discontinued operations . likewise the cash flow statement includes kimball electronics activity up to the october 31 , 2014 completion date of the spin-off . our cash and cash equivalents position declined to $ 34.7 million at june 30 , 2015 from $ 136.6 million at june 30 , 2014 , primarily due to the transfer of $ 63.0 million of cash to kimball electronics in conjunction with the spin-off . the remaining decline in cash and cash equivalents was driven by capital expenditures , share repurchases , and dividends as discussed below . working capital at june 30 , 2015 was $ 44.4 million compared to working capital of $ 246.2 million at june 30 , 2014 . the current ratio was 1.4 at june 30 , 2015 and 2.0 at june 30 , 2014 . the change in working capital and current ratio was primarily driven by the spin-off of kimball electronics . kimball 's short-term liquidity available , represented as cash and cash equivalents plus the unused amount of our credit facility , totaled $ 63.7 million at june 30 , 2015 .
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 Suspicious Activity Report : we have a 19 strong focus on cost control and closely monitor market changes and our liquidity in order to proactively adjust our operating costs , discretionary capital spending , and dividend levels as needed . managing working capital in conjunction with fluctuating demand levels is likewise key . in addition , a long-standing component of our profit sharing incentive bonus plan is that it is linked to our worldwide and business unit performance which is designed to adjust compensation expense as profits change . we continue to maintain a strong balance sheet . our short-term liquidity available , represented as cash and cash equivalents plus the unused amount of our credit facility , was $ 63.7 million at june 30 , 2015 . in addition to the above discussion , management currently considers the following events , trends , and uncertainties to be most important to understanding our financial condition and operating performance : successful execution of the company 's restructuring plan is critical to the company 's future performance . the success of the restructuring initiatives is dependent on accomplishing the plan in a timely and effective manner . a critical component of the restructuring initiatives is the transfer of production among facilities which will result in some manufacturing inefficiencies and excess working capital during the transition period . the company 's restructuring plan is discussed below . we continue to focus on mitigating the impact of raw material commodity pricing pressures . due to the contract and project nature of the furniture markets , fluctuation in the demand for our products and variation in the gross margin on those projects is inherent to our business . effective management of our manufacturing capacity is and will continue to be critical to our success . see below for further details regarding current sales and open order trends . while both the hospitality and office furniture markets are expanding , we continue to see volatility in order rates which in turn can impact our operating results . globalization continues to reshape not only the markets in which we operate but also our key customers and competitors . in addition , demand is increasing for hospitality furniture manufactured in the u.s. , and we are shifting focus of underutilized manufacturing capacity to fill this need . employees throughout our business operations are an integral part of our ability to compete successfully , and the stability of the management team is critical to long-term share owner value . our career development and succession planning processes help to maintain stability in management . spin-off of kimball electronics reported as discontinued operations on october 31 , 2014 ( “ distribution date ” ) , we completed the previously announced spin-off of our electronic manufacturing services ( “ ems ” ) segment by distributing the related shares of kimball electronics , inc. ( “ kimball electronics ” ) , on a pro rata basis , to the company 's share owners of record as of october 22 , 2014 ( the “ record date ” ) . on the distribution date , each of the company 's share owners received three shares of kimball electronics for every four shares of the company held by such share owner on the record date . after the distribution date , the company does not beneficially own any kimball electronics shares and kimball electronics is an independent publicly traded company . in connection with the spin-off of kimball electronics , the company and kimball electronics entered into several agreements covering administrative and tax matters to provide or obtain services on a transitional basis , as needed , for varying periods after the spin-off . the administrative agreements cover various services such as information technology , human resources , taxation , and finance . the company expects all services to be substantially complete within one year after the spin-off . the company distributed $ 63 million of cash to kimball electronics , including the cash held by its foreign facilities , as kimball electronics began operation as an independent company . the cash distribution occurred in several installments immediately preceding the october 31 , 2014 spin-off date or shortly thereafter . the ems business was reclassified to discontinued operations for all periods presented . financial results of the discontinued operations were as follows : replace_table_token_7_th 20 fiscal year 2015 results of operations the following discussion of operating results is based on income from continuing operations and therefore excludes all income statement activity of the discontinued operations . replace_table_token_8_th replace_table_token_9_th fiscal year 2015 net sales were $ 600.9 million compared to fiscal year 2014 net sales of $ 543.8 million , or a 10.5 % increase . increased sales within the commercial , hospitality , government , and healthcare vertical markets more than offset lower sales within the finance and education vertical markets . increased volume and to a lesser extent the positive impact of price increases drove the net sales increase . our hospitality vertical market sales improved over the prior year on strength in sales of both custom and non-custom hospitality furniture . the sales increase in our commercial vertical market was broad based as business conditions remain strong in both day-to-day and project business fueled in part by new product and marketing initiatives . the government vertical market continued to show momentum as government sales steadily recover from recession levels . the sales decline in the finance vertical market was due in part to the trend toward smaller footprint offices and lower cost products being selected . vertical market sales levels can fluctuate depending on the mix of projects in a given year . in fiscal year 2015 we recorded income from continuing operations of $ 11.1 million , or $ 0.29 per class b diluted share , inclusive of $ 3.2 million , or $ 0.08 story_separator_special_tag the timing of severance plan payments is estimated based on the average remaining service life of employees . the fiscal year 2016 amount includes $ 0.7 million for severance payments recorded as a current liability . the timing of warranty payments is estimated based on historical data . the fiscal year 2016 amount includes $ 0.8 million for short-term warranty payments recorded as a current liability . ( d ) excludes $ 3.5 million of long-term unrecognized tax benefits and associated accrued interest and penalties along with deferred tax liabilities and miscellaneous other long-term tax liabilities which are not tied to a contractual obligation and for which the company can not make a reasonably reliable estimate of the period of future payments . ( e ) refer to note 5 - commitments and contingent liabilities of notes to consolidated financial statements for more information regarding operating leases and certain other long-term liabilities . ( f ) purchase obligations are defined as agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms . the amounts listed above for purchase obligations include contractual commitments for items such as raw materials , supplies , capital expenditures , services , and software acquisitions/license commitments . cancellable purchase obligations that we intend to fulfill are also included in the purchase obligations amount listed above through fiscal year 2020. off-balance sheet arrangements we have no off-balance sheet arrangements other than standby letters of credit and operating leases entered into in the normal course of business . these arrangements do not have a material current effect and are not reasonably likely to have a material future effect on our financial condition , results of operations , liquidity , capital expenditures , or capital resources . see note 5 - commitments and contingent liabilities of notes to consolidated financial statements for more information on standby letters of credit . we do not have material exposures to trading activities of non-exchange traded contracts . 27 critical accounting policies kimball 's consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the united states of america . these principles require the use of estimates and assumptions that affect amounts reported and disclosed in the consolidated financial statements and related notes . actual results could differ from these estimates and assumptions . management uses its best judgment in the assumptions used to value these estimates , which are based on current facts and circumstances , prior experience , and other assumptions that are believed to be reasonable . management believes the following critical accounting policies reflect the more significant judgments and estimates used in preparation of our consolidated financial statements and are the policies that are most critical in the portrayal of our financial position and results of operations . management has discussed these critical accounting policies and estimates with the audit committee of the company 's board of directors and with the company 's independent registered public accounting firm . revenue recognition - we recognize revenue when persuasive evidence of an arrangement exists , delivery has occurred , the sales price is fixed or determinable , and collectability is reasonably assured . delivery is not considered to have occurred until the title and the risk of loss passes to the customer according to the terms of the contract . title and risk of loss are transferred upon shipment to or receipt at our customers ' locations , or in limited circumstances , as determined by other specific sales terms of the transaction . shipping and handling fees billed to customers are recorded as sales while the related shipping and handling costs are included in cost of goods sold . we recognize sales net of applicable sales tax . sales returns and allowances - based on estimated product returns and price concessions , a reserve for returns and allowances is recorded at the time of the sales , resulting in a reduction of revenue . these estimates may change over time causing the provisions to be adjusted accordingly . at june 30 , 2015 and june 30 , 2014 , the reserve for returns and allowances was $ 0.8 million and $ 1.3 million ( inclusive of kimball electronics ) , respectively . the returns and allowances reserve approximated 1 % to 2 % of gross trade receivables during fiscal years 2015 and 2014. allowance for doubtful accounts - our estimate for the allowance for credit losses on trade accounts receivable and notes receivable includes analysis of such items as aging , credit worthiness , payment history , and historical bad debt experience . management uses these specific analyses in conjunction with an evaluation of the general economic and market conditions to determine the final allowance for credit losses on the trade accounts receivable and notes receivable . the allowance for doubtful accounts at june 30 , 2015 and june 30 , 2014 was $ 1.0 million and $ 1.8 million ( inclusive of kimball electronics ) , respectively . during the two year period preceding june 30 , 2015 , this reserve approximated 1 % of gross trade accounts receivable prior to the spin-off , and approximated 2 % to 4 % of post-spin gross trade accounts receivable . self-insurance reserves - we are self-insured up to certain limits for auto and general liability , workers ' compensation , and certain employee health benefits such as medical , short-term disability , and dental with the related liabilities included in the accompanying financial statements . our policy is to estimate reserves based upon a number of factors including known claims , estimated incurred but not reported claims , and other analyses , which are based on historical information along with certain assumptions about future events . changes in assumptions for such matters as increased medical costs and changes in actual experience could cause these estimates to change and reserve levels to be adjusted accordingly . at june 30 ,

