Below is a list of accounts and balances for FlipFlop Inc. for the year ending December 31, 2023. All balances are in thousands of dollars. FlipFlop Inc. follows IFRS. Assume a tax rate of 25%. Exclude the presentation of earnings per share for this question. Account Title Balance Accounts Payable $8,400 Accounts Receivable $13,400 Accumulated Depreciation $1,300 Advertising Expense $1,200 Cash $20,300 Cash Dividends $4,200 Common Shares $14,000 Cost of Goods Sold $21,120 Depreciation Expense-Office Equipment $60 Depreciation Expense-Store Equipment $700 Gain on Foreign Currency Translation Adjustments $140 Gain on Sale of Discontinued Operations $1,800 Income from Operating Discontinued Operations $8,000 Interest Expense $1,100 Merchandise Inventory $17,700 Miscellaneous Administrative Expenses $430 Notes Payable $22,000 Office Salaries Expense $1,600 Prepaid Insurance $1,800 Property, Plant and Equipment $25,800 Rent Expense-Office $510 Rent Expense-Retail $1,060 Retained Earnings (beginning balance) $13,115 Sales Salaries Expense $2,000 Sales Discounts $1,200 Sales Returns and Allowances $980 Sales Revenue $52,800 Unearned Revenue $1,300 Notes: Unlimited common shares are authorized and 2,470 have been issued and are currently outstanding. The notes payable is payable over 5 years and $4,400 will be paid by December 31, 2024