9 Presented below are the 2018 income statement and comparative balance sheets for Santana Industries SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2018 ($ in thousands) 10 points Sales revenue Service revenue 17,050 6,200 Total revenue $23,250 eBook Operating expenses: Cost of goods sold Selling General and administrative 8,600 3,800 2,900 Print 15,300 7,950 340 7,610 3,900 3,710 Total operating expenses Operating income Interest expense Income before income taxes Income tax expense Net income References Dec. 31, Dec. 31, 2018 2017 Balance Sheet Information ($ in thousands) Assets: Cash Accounts receivable Inventory Prepaid rent Plant and equipment $ 8,750 3,460 3,600 4,400 580 14,800 (6,500) (5,900 $31,940 $20,940 5,300 6,800 290 17,300 Less: Accumulated depreciation Total assets Liabilities and Shareholders Equity: Accounts payable Interest payable Deferred service revenue Income taxes payable Loan payable (due 12/31/2020) Common stock Retained earnings $ 4,200 2,500 240 1,080 690 7,800 11,400 6,530 740 1,080 11,400 5,220 $31,940 $20,940 Total liabilities and shareholders' equity