Financial statements for Askew Industries for 2024 are shown below (in thousands): 2024 Income Statement Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net income $ 8,800 (6,100) 2,700 (1,900) (120) (272) $ 408 Comparative Balance Sheets 2024 December 31 2023 Assets Cash Accounts receivable. Inventory Property, plant, and equipment (net). Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock Retained earnings $ 520 520 $ 420 320 720 1,200 520 1,300 $ 2,960 $ 2,560 $ 620 $.370 1,000 1,000 520 520 820 670 $ 2,960 $ 2,560 ^