Comparative financial statement data of Danfield, Inc., follow: 1. Market price of Danfield's common stock: $40.14 at December 31, 2020 , and $25.87 at December 31, 2019 2. Common shares outstanding: 10,000,000 during and during 2019. 3. All sales are credit sales.

	A	B	C
1	Danfield, Inc.
2	Comparative Income Statements
3	For the Years Ended December 31, 2020 and 2019
4		(amounts in thousands)
5		2020	2019
6	Sales revenues	$466,840	$419,560
7	Less: Cost of goods sold	250,000	210,000
8	Gross profit	$216,840	$209,560
9	Less: Operating expenses	134,000	127,000
10	Operating income	$82,840	$82,560
11	Less: Interest expense	10,900	12,800
12	Income before income taxes	$71,940	$69,760
13	Less: Income tax expense	25,940	33,760
14	Net income	$46,000	$36,000

	A	B	C	D
1	Danfield, Inc.
2	Comparative Balance Sheets
3	December 31, 2020 and 2019
4	(amounts in thousands)
5		2020	2019	2018*
6	Assets
7	Current assets:
8	Cash	$91,000	$92,000
9	Accounts receivable	106,000	180,000	$130,000
10	Inventory	140,000	110,000	$226,000
11	Prepaid expenses	9,500	5,000
12	Total current assets	$346,500	$387,000
13	Property, plant, and equipment, net	201,000	172,000
14	Total assets	$547,500	$559,000
15	Liabilities
16	Current liabilities	$192,500	$225,000
17	Long-term liabilities	95,000	119,000
18	Total liabilities	$287,500	$344,000
19	Stockholders' equity
20	Preferred stock, 8%	$125,000	$125,000
21	Total common stockholders' equity	135,000	90,000	$110,000
22	Total stockholders' equity	$260,000	$215,000
23
24	Total liabilities and equity	$547,500	$559,000
25	*Selected 2018 amounts