Freiman Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 184 $ 144 Accounts receivable, net 280 300 Inventory 144 154 Prepaid expenses 52 52 Total current assets 660 650 Plant and equipment, net 820 820 Total assets $1,480 $1,470 $ 154 $ 102 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock, $2 par value Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities & stockholders' equity 174 102 82 358 326 684 328 316 644 124 124 260 260 452 402 836 786 $1,480 $1,470 Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) Sales (all on account) $1,790 Cost of goods sold 1,020 Gross margin 770 Selling and administrative expenses Net operating income Interest expense Net income before taxes 292 Income taxes (30%) 88 Net income $ 204 419 The working capital at the end of Year 2 is: Multiple Choice $660 thousand $824 thousand $332 thousand $820 thousand