Condensed versions of Your Phone Ltd.'s financial statements, with certain amounts omitted, are given for two years.

{Requirements}
1. Determine the missing amounts denoted by the letters.
2. Use Your Phone's financial statements to answer these questions about the company. Explain each of your answers.

a. Did operations improve or deteriorate during 2020 ?

b. What is the company doing with most of its income-retaining it for use in the business or using it for dividends?

c. How much in total resources does the company have to work with as it moves into 2021? How much in total resources did the company have at the end of 2019?

d. At the end of 2019, how much did the company owe outsiders? At the end of 2020 , how much did the company owe?

e. What is the company's major source of cash? What is your opinion of the company's ability to generate cash? How is the company using most of its cash? Is the company growing or shrinking?

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(thousands) 2020 2019 Statement of Income Revenues $94,500 Cost of goods sold. k 65,400 Other expenses... 15,660 13,550 Income before income taxes 5,645 9,300 Income taxes 1,975 3,450 Net income.... $ Statement of Retained Earnings Beginning balance.... Net income.... Dividends..... Ending balance... Balance Sheet Assets: Cash... Capital assets. Other assets. Total assets.. m $10,000 11 (480) (450) 0 $ P 23,790 GA $ 400 T 17.900 $38.500