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 $ 155 230 $ 200 250 200 170 20 20 605 640 790 780 Total assets $ 1,395 $ 1,420 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 Gross margin Selling and administrative expense Net operating income Interest expense Net income before taxes Income taxes (30%) $ 1,210 740 470 345 125 201 105) 32 $ 170 $ 200 50 50 40 40 260 290 160 190 420 480 200 200 330 330 445 410 975 940 $ 1,395 $1,420 < Prev 10 of 10 Next >