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begin{tabular}{|c|c|c|} hline & 2022 & 2021 hline Income Statement & multicolumn{2}{|c|}{ (in Thousands) } hline Revenues & & 16,275 hline Cost of

image text in transcribed \begin{tabular}{|c|c|c|} \hline & 2022 & 2021 \\ \hline Income Statement & \multicolumn{2}{|c|}{ (in Thousands) } \\ \hline Revenues & & 16,275 \\ \hline Cost of goods sold & 11,080 & \\ \hline Other expenses & 1,290 & 1,160 \\ \hline Income before income taxes & 1,560 & 1,880 \\ \hline Income taxes (35\%) & & 658 \\ \hline Net income & & \\ \hline \multicolumn{3}{|l|}{ Statement of Retained Earnings } \\ \hline Beginning balance & & 2,780 \\ \hline Net income & & \\ \hline Dividends & (86) & (100) \\ \hline Ending balance & & \\ \hline \multicolumn{3}{|l|}{ Balance Sheet } \\ \hline \multicolumn{3}{|l|}{ Assets } \\ \hline \multicolumn{3}{|l|}{ Cash } \\ \hline Property, plant, and equipment & 1,477 & 1,366 \\ \hline Other assets & & 11,961 \\ \hline Total assets & & 14,507 \\ \hline \multicolumn{3}{|l|}{ Liabilities } \\ \hline Current liabilities & & 5,680 \\ \hline Long-term debt & 4,650 & 3,380 \\ \hline Other liabilities & 965 & 1,110 \\ \hline Total liabilities & 9,600 & \\ \hline \multicolumn{3}{|l|}{ Stockholders' equity: } \\ \hline Common stock & 225 & 225 \\ \hline \multicolumn{3}{|l|}{ Retained earnings } \\ \hline Other stockholders' equity & 220 & 210 \\ \hline Total stockholders' equity & & 4,337 \\ \hline Total liabilities and stockholders' equity & & \\ \hline \multicolumn{3}{|l|}{ Cash Flow Statement } \\ \hline Net cash provided by operating activities & & 800 \\ \hline Net cash used in investing activities & (300) & (300) \\ \hline Net cash used in financing activities & (530) & (550) \\ \hline Increase (decrease) in cash & (90) & \\ \hline Cash at beginning of year & & 1,230 \\ \hline Cash at end of year & & \\ \hline \end{tabular}

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