its "top line" sales from $375,000 in 2015 to $450,000 in 2016. Net income also increased as did the ven ture's total assets. You have been asked to compare the financial performance between the two years SALZA TECHNOLOGY CORPORATION ANNUAL INCOME STATEMENTS IN $ THOUSANDS) 2016 Net sales Less: Cost of goods sold Gross profit Less: Operating expenses Less: Interest Income before taxe Less: Income taxes Net income Cash dividends $ 17 s 20 BALANCE SHEETS AS OF DECEMBER 31 IN $ THOUSANDS) 2015 2016 Accounts receivable Total current assets Gross fixed assets Less accumulated depreciation Net fixed assets Total assets 125 165 $345 $465 105 Accounts payable Bank loan Accrued liabilities Total current liabilities Long-term delt Common stock Retained eamings Total liabilities and equity 120 185 $345 $485