Income Statement For the Year Ended November 30, 2021 Sales (net) Interest income Total revenue Costs and expenses Cost of goods sold (in thousands) $ 30,550 550 31,100 17,650 Selling and administrative expenses 3,600 Depreciation and amortization expense 1,940 Interest expense 950 Total costs and expenses 24,140 Income before taxes 6,960 Income taxes Net income 2.784 $ 4,176 Buffalo Inc. Balance Sheet As of November 30 (in thousands) 2021 2020 Cash Short-term investments (at cost) Accounts receivable (net) Inventory Total current assets Property, plant, & equipment (net) $ 450 $ 550 350 250 3.250 2.950 6.050 5,450 10.100 9.200 7,150 7,050 Total assets $ 17.250 $ 16.250 Accounts payable 3,750 $ 3.450 Income taxes payable 950 850 Accrued expenses 1,750 1,450 Total current liabilities 6.450 5.750