Income Statement ( $ in thousands) For the Year Ended December 31, 2016 Sales revenue Operating exponses: $7,000 Cost of goods sold Depreciation Insurance Administrative and other Total operating expenses Income before income taxes Incomo tax exponso Net income Balance Sheet Information ( $ in thousands) Assets: Cash Dec. 31, 2016 5,500 1,500 600 $900 [$3","360],[240],[100],[1","800] Accounts receivable Inventory Prepaid insurance Plant and equipment Loss: Accumulated deprociation Total assets Liabilities and Shareholders' Equity: Accounts payablo Payables for administrative and other expenses income taxes payable Note payable (due 12/31/2017) Common stock Retained oarnings Total liabilitios and sharoholders' oquity $300 750 640 50 2,100 (840) $3,000 $300 30