inc, began operations on January 1, 2016. Its post-closing trial balance at December 31, 2016 and 2017, is shown below along with some other information Paddleboard Inc Income Statement For Year Ended December 31, 2017 (000s) Revenues Sales $3814 1,566 2.248 Cost of goods sold Gross Profit Expenses Other expenses Depreciation expense $850 110 Total operating expenses 960 Profit from operations Income tax expense Profit 1,288 288 $1,000 Paddleboard Inc. Post-Closing Trial Balance (000s) December 31 2017 $3,180 Account Cash Receivables Merchandise inventory Property, plant and equipment Accumulated depreciation Investments Accounts payable Accrued liabilities Bonds payable Common shares Retained earnings 2016 $1,870 2,590 3,070 1,950 2,110 1,950 320 2,530 3,070 3,950 2,110 3,160 2,750 1,840 2,270 1,470 480 2,700 2,600 3,070