Bramble Limited, which follows IFRS, has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities. Condensed financial data for 2020 and 2019 follow (in thousands): BRAMBLE LIMITED Comparative Statement of Financial Position December 31 2020 2019 Cash $1,980 $1,150 FV-NI investments 1,300 1,420 Accounts receivable 1,855 1,350 Inventory 1,685 2,020 Plant assets 1,985 1,760 Accumulated depreciation (1,200) (1,170) $7,605 $6,530 Accounts payable $1,305 $950 Accrued liabilities 295 345 Mortgage payable 1,390 1,575 Common shares 2,010 1,760 Retained earnings 2,605 1,900 $7,605 $6,530 Sales Cost of goods sold BRAMBLE LIMITED Income Statement Year Ended December 31, 2020 Gross margin Administrative expenses $6,895 4,700 2,195 910 1,285 Income from operations Other expenses and gains Interest expense $120 Gain on disposal of FV-NI investments 80 60 Income before tax 1,345 Income tax expense 405 Net income $940