Consider the following abbreviated financial statements for TSL, Inc.: TSL, Inc. Balance Sheets as of December 31, 2020 and 2021 ($ in thousands) 2020 2021 2020 2021 Current assets Net fixed assets $15,750 $19,800 13,950 15,300 Current liabilities $5,400 $6,750 Long-term debt 9,775 10,000 13,400 13,700 Total assets $29,700 $35,100 Common stock Retained earnings Total liabilities and shareholders' equity 1,125 4,650 $29,700 $35,100 TSL, Inc. 2021 Income Statement ($ in thousands) Sales $45,000 Cost of goods sold 34,200 Depreciation 1,800 Earnings before interest and taxes $9,000 Interest paid 1,575 Taxable income $7,425 Taxes 1,350 Net income $6,075 Dividends $2,550