Gerrard Construction Co. is an excavation contractor. The following summarized data (in thousands) are taken from the December 31, 2019, financial statements: For the Year Ended December 31, 2019: Net revenues Cost of services provided Depreciation expense Operating income Interest expense Income tax expense Net income At December 31, 2019: Assets Cash and short-term investments Accounts receivable, net Property, plant, and equipment, net Total assets Liabilities and Stockholders' Equity Accounts payable Income taxes payable Notes payable (long term) Paid-in capital Retained earnings Total liabilities and stockholders' equity $ 33,600 11,800 6,000 $ 15,800 3,400 3,300 $ 9,100 $ 2,900 10,400 85,400 $ 98,700 $ 1,900 1,700 53,500 12,000 29,600 $98,700 At December 31, 2018, total assets were $80,400 and total stockholders' equity was $33,000. There were no changes in notes payable or paid-in capital during 2019.