Assets Current assets Cash PRONGHORN LTD. Statement of Financial Position December 31 (in thousands) 2018 2017 2016 $ 30 $ 80 $ 200 Accounts receivable 900 700 500 Inventory 1,200 800 500 Total current assets 2,130 1,580 1,200 Property, plant, and equipment (net) 4,100 3,800 3,200 Total assets $6,230 $5.380 $4,400 Liabilities and Shareholders' Equity Liabilities Current liabilities Non-current liabilities Total liabilities Shareholders' equity Common shares Retained earnings $ 600 $ 550 $ 500 3,070 2.320 1,500 3.670 2,870 2,000 Total shareholders' equity Total liabilities and shareholders' equity 1,000 1,000 1,000 1,560 1,510 1,400 2.560 2.510 2.100 $6.230 $5.380 $1.100 PRONGHORN LTD. Income Statement Year Ended December 31 (in thousands) 2018 2017 2016 Sales (all on credit) $4,500 $4,000 $3,600 Cost of goods sold 2,500 2,100 1,800 Gross profit 2,000 1,900 1,800 Operating expenses 1,450 1,475 1,490 Income from operations 550 425 310 Interest expense 190 130 70 Income before income tax 360 295 240 Income tax expense 90 75 60 Net income $270 $ 220 $ 180 The times interest earned for 2018 is