I AM HAVING TROUBLE WITH L-Q ON THIS. IM NOT SURE IM CORRECT WITH TOP TWO

Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Asset: Current assets Cash Accounts receivable Inventory Prepaid expenses $ 160 $ 170 270 280 160 25 170 25 Total current assets Plant and equipment, net 625 635 964 944 Total assets $1,589 $1,579 Liabilities and stockholders' equity Current liabilities Accounts payable Accrued liabilities $ 220 210 110 170 110 160 Notes payable, short term Total current liabilities Bonds payable 490 250 490 300 Total liabilities 740 790 Stockholders' equity Preferred stock, $100 par value, 10% Common stock, $1 par value Additional paid-in capital--common stoclk Retained earnings 260 260 100 110 379 315 100 110 Total stockholders' equity 849 785 Total liabilities and stockholders' equity $1,589 $1,575 Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) Sales (all on account) Cost of goods sold $1,390 856 Gross margin Selling and administrative expenses 534 297 Net operating income Interest expense 237 37 Net income before taxes Income taxes (30%) 200 60 Net income $ 140 Dividends on common stock during Year 2 totaled S50 thousand. The market price of common stock at the end of Year 2 was S9.42 per share