CullumberCorporation reported the following information (in thousands) at December 31, 2021:

2021

2020

Dividends payable

$25$10Bank loan payablecurrent portion

270270Bank loan payablenon-current portion

420265Common shares

660430Retained earnings

740600

Additional information:

1.The bank loan was increased by additional borrowings of $380to partially finance the purchase of new equipment that cost $560. The bank loan was decreased by repayments.2.Common shares were issued during the year. None were repurchased.3.The company paid dividends during the year.4.Net income for the year was $480.