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 $ 30,400 11,600 5,000 $ 13,800 3,000 3,400 $ 7,400 $ 3,400 10,300 83,400 $ 97,100 $ 1,900 Income taxes payable Notes payable (long term) Paid-in capital Retained earnings Total liabilities and stockholders' equity 1,700 53,500 11,000 29,000 $ 97,100 At December 31, 2018, total assets were $81,400 and total stockholders' equity was $33,400. There were no changes in notes payable or paid-in capital during 2019.