Hyrkas Corporation's most recent balance sheet and income statement appear below:

Hyrkas Corporation's most recent balance sheet and income statement appear below: Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Asset: Current assets: 150 160 Cash Accounts receivable 260 270 Inventory 160 150 Prepaid expenses 10 10 Total current assets 580 590 Plant and equipment, net 955 935 1,535 1,525 Total assets Liabilities and stockholders' equity: Current liabilities: 210 200 Accounts payable Accrued liabilities 100 100 Notes payable, short term 150 160 Total current liabilities 460 460 Bonds payable 240 290 Total liabilities 700 750 Stockholders' equity: Preferred stock, $100 par value, 10% 250 250 Common stock, $1 par value 100 100 Additional paid-in capital--common stock 110 110 Retained earnings 375 290 Total stockholders' equity 835 750 Total liabilities and stockholders' equity 1,535 $1,500