Portions of the financial statements for Clear Transmissions Company are provided below. CLEAR TRANSMISSIONS COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales $2,100 Cost of goods sold 840 Gross margin 1,260 Salaries expense $376 Depreciation expense 245 Amortization expense 36 Interest expense 92 Loss on sale of cash equivalents 19 768 Income before taxes 492 Income tax expense 246 Net Income $ 246 CLEAR TRANSMISSIONS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) Year 2021 2020 Change Cash $132 $126 $ 6 Accounts receivable 257 271 (14) Inventory 463 476 (13) Accounts payable 193 186 7 Salaries payable 105 112 (7) Interest payable 51 46 Income tax payable 42 36 951