Presented below are the $2024$ income statement and comparative balance sheets for Santana Industries.

SANTANA INDUSTRIES

Income Statement

For the Year Ended December $31,2024$

Sales revenue $($ $ in thousands$)$

Service revenue

Total revenue

Operating expenses:

Cost of goods sold

Selling expense

General and administrative expense

Total operating expenses

Operating income

Interest expense

Income before income taxes

Income tax expense

Net income

$\backslash$table$[[$Balance Sheet Information $($ $ in thousands$),\backslash$table$[[$December$],[31,2024]],\backslash$table$[[$December$],[31,2023]]],[$Assets:$],[$Cash$,,8,500,,2,380],[$Accounts receivable,,$2,900,,2,400],[$Inventory$,,4,400,,3,200],[$Prepaid rent,,$170,,340],[$Equipment$,,14,900,,12,400],[$Less: Accumulated depreciation,,$(5,300),,(4,700)$