Do It! Review 14-2 The condensed financial statements of Murawski Company for the years 2016 and 2017 are presented below. (Amounts in thousands.) MURAWSKI COMPANY Balance Sheets December 31 2017 2016 Current assets 330 410 368 156 1,264 14 360 488 $2,126 359 478 432 134 1,403 Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments Property, plant, and equipment Intangibles and other assets 390 508 $2,315 914 418 983 $2,315 Total assets Current liabilities Long-term liabilities Stockholders' equity-common 794 388 944 $2,126 Total liabilities and stockholders' equity MURAWSKI COMPANY Income Statements For the Years Ended December 31 2017 2016 Sales revenue Costs and expenses $3,990 $3,790 Cost of goods sold Selling & administrative expenses Interest expense 2,325 23 3,236 754 174 580 966 2,396 20 3,382 408 76 332 Total costs and expenses Income before income taxes Income tax expense Net income