Financial statements for Askew Industries for $2024$ are shown below $($in thousands$)$:

$2024$ Income Statement

Net sales $ $10,000$

Cost of goods sold $(6,550)$

Gross profit $3,450$

Operating expenses $(2,350)$

Interest expense $(300)$

Income tax expense $(320)$

Net income $ $480$

Comparative Balance Sheets

December $31$

$20242023$

Assets

Cash $ $700$ $ $600$

Accounts receivable $700500$

Inventory $900700$

Property, plant, and equipment $($net$)3,0003,100$

$ $5,300$ $ $4,900$

Liabilities and Shareholders$$ Equity

Current liabilities $ $1,700$ $ $1,450$

Bonds payable $1,9001,900$

Common stock $700700$

Retained earnings $1,000850$

$ $5,300$ $ $4,900$