Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Assets Year 2 Year 1 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net $ 250 $ 390 420 440 390 360 20 20 1,080 1,210 1,360 1,540 Total assets $ 2,440 $ 2,750 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 Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) Sales (all on account) Cost of goods sold $ 1,620 1,050 $ 360 $ 390 50 50 40 40 450 480 350 635 800 1,115 200 200 330 330 1,110 1,105 1,640 1,635 $ 2,440 $ 2,750 Gross margin Selling and administrative expense Net operating income Interest expense Net income before taxes Income taxes (30%) Net income 570 530 40 20 20 6 $ 14 Dividends on common stock during Year 2 totaled $9 thousand. The market price of common stock at the end of Year 2 was $3.00 per charo