S3-15. (Learning Objective 4: Preparing the financial statements) Suppose Hawk Sporting Goods Company reported the following data at March 31, 20X8, with amounts in thousands:

Use these data to prepare Hawk Sporting Goods Company’s Income Statement for the year ended March 31, 20X8; statement of changes in equity for the year ended March 31, 20X8; and classified Balance Sheet at March 31, 20X8. Use the report format for the Balance Sheet. Draw arrows linking the three statements.

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Retained earnings, Cost of goods sold.. $142,500 March 31, 20X7 Accounts receivable....... $ 4,000 Cash........ 1,700 37,800 Property and equipment, net ... 7,500 Net revenues. 188,000 Share capital.. 30,000 Total current liabilities.. 48,000 Inventories 25,000 All other expenses. 24,300 Long-term liabilities 8,000 Other current assets...... 6,400 Dividends... 1,200 Other assets.... 31,600