Argan Corp Comparative Balance Sheets December 31, 2024 and 2023 Argan Corp. Income Statement For Year Ended 31-Dec-24 ($ in millions) Assets Cash 2024 2023 57 ($ in millions) Accounts receivable 181 Revenues and gain: Less: Allowance for uncollectible accounts (8) Sales revenue $320 Prepaid insurance 7 Investment revenue 15 Inventory 170 Gain on sale of Treasury bills 5 $340 Long-term investment 66 Land 150 Expenses and loss: Buildings and equipment 290 Cost of goods sold Salaries expense Depreciation expense Amortization expense 125 Less: Accumulated depreciation (85) 55 Trademark 24 25 852 856 1 Liabilities Bad debt expense 7 Accounts payable Insurance expense 13 Salaries payable Interest expense 30 Deferred tax liability Loss on sale of equipment 42 298 Lease liability Income before tax $42 Bonds payable Less: Discount on bonds Income tax expense 20 30 45 3 8 18 15 68 145 0 275 (22) (25) Net income $22 Shareholders' Equity Common stock Paid-in capital-excess of par Preferred stock Retained earnings 310 95 50 155 852 85 0 R 55 170 (6) 12 165 90 150 270 (75) 25 290