Kimmel, Financial Accounting, 8e Help I System Announcements Exercise 13-13 The condensed financial statements of Oriole Company for the years 2016 and 2017 are presented bei ORIOLE COMPANY Balance Sheets December 31 (in thousands) 2017 2016 Current assets $330 $360 Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses 6p0 590 510 440 160 1,630 1,550 410 380 200 200 530 510 $2,770 $2,640 $1,010 $980 530 430 1,230 1,230 $2,770 $2,640 130 Total current assets Property, plant, and equipment (net) Investments Intangibles and other assets Total assets Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity ORIOLE COMPANY Income Statements For the Year Ended December 31 (in thousands) 2017 2016 $3,850 $3,510 Sales revenue Costs and expenses Cost of goods sold Selling & administrative expenses Interest expense 1,160 1,080 2,400 2,330 20 3,570 3,430 80 32 10 Total costs and expenses Income before income taxes Income tax expense Net income 280 112 5168$48