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Only need help on inventory supplier question QUESTION 3 Accounting 321 Presented below is the 2016 income statement and comparative balance shcet i Enterprises nfomation

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image text in transcribedOnly need help on inventory supplier question
QUESTION 3 Accounting 321 Presented below is the 2016 income statement and comparative balance shcet i Enterprises nfomation for Tiger TIGER ENTERPRISES Income Statement For the Year Ended December 31,2016 (S in thousands) Sales revenue Operating expenses: $ 7,000 Cost of goods sold Depreciation Insurancc Administrative and other s 3,360 240 100 1,800 Total operating expenses 5,500 Income before income taxes Income tax expense 1,500 600 Net incomc $ 900 Balance Sheet Information (S in thousands) Dec. 31, 2016 Dec. 31, 2015 $ 300 750 640 Accounts reccivable Inventory Prepaid insurance Plant and equipment $ 200 830 600 20 1,800 (600) 2,100 (840) Less: Accumulated depreciation S 3,000 $ 2,850 Total assets Liabilities and Sharcholders' Equity Accounts payable Payables for administrative and other expenses Income taxes payable Note payable (due 12/31/2017) Common stock Retained camings $ 300 300 200 800 900 500 S 360 400 150 600 800 540 3,000 Total liabilities and sharcholders' equity $ 2,850

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