P 8-12 Consecutive five-year balance sheets and income statements of Mary Lou Szabo Corpora tion are as follows: Mary Lou Szabo Corporation Balance Sheets December 31, 2005, through December 31, 2009 2007 2005 (Dollars in thousands) Assets Current assets 2009 2008 2006 S 24,000 120,000 135,000 25,000 S 26,000 24,000 $ 26,000 as Accounts receivable, net Inventories 128,000 295,000 485,000 90,000 $859,000 $861,000$870,000 $867,000 $863,000 122,000 138,000 279,000 285,000 500,000 491,000 0,00085.000 129,000 130,0 140,000 293,000 293,000 479,000 470,000 Total current assets Property, plant, and equipment, net 100,000 Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Income taxes $180,000 $181,000 S181,500 $183,000 S184,000 14,000 194,000 65,000 80,000 14,000 195,500 79,500 Total curent liabilities Long-term debt Redeemable preferred stock 195,000196,500 82,000 107,500 195,500 67,500 339,000 343,000 70,000 Total liabilities 355,000 357,000 304,000 Stockholders' equity: 70,000 350,000 120,000 350,000 350,000 70,000 70,000 Preferred stock Common stock Paid-in capital in excess of par 350,000 350,000 common stock Retained earnings Total stockholders' equity 15,000 85,000 15,000 80,000 15,000 75,000 510,000 559,000 520,000518,000 Total liabilities and stockholders' equity $859,000 $861,000 $870,000 $867,000 $863,000 Mary Lou Szabo Corporation Statement of Earnings Years Ended December 31, 2005-2009 (Dollars in thousands) 2009 2008 2007 2006 2005 Cost of goods sold Gross profit $ 980,000 $960,000 $ 940,000 S900,000 $ 880,000 580,000566,000 320,000314,000 625,000616,000 355,000 344,000 607,000 333,000