Presented below are the 2013 income statement and comparative balance sheets for Santana Industries. SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2013 ($ in thousands) Sales revenue $ 14,250 Service revenue 3,400 ________________________________________ ________________________________________ Total revenue $ 17,650 Operating expenses: Cost of goods sold 7,200 Selling 2,400 General and administrative 1,500 ________________________________________ ________________________________________ Total operating expenses 11,100 ________________________________________ ________________________________________ Operating income 6,550 Interest expense 200 ________________________________________ ________________________________________ Income before income taxes 6,350 Income tax expense 2,500 ________________________________________ ________________________________________ Net income $ 3,850 ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________ Balance Sheet Information ($ in thousands) Dec. 31, 2013 Dec. 31, 2012 ________________________________________ ________________________________________ Assets: Cash $ 7,350 $ 2,200 Accounts receivable 2,500 2,200 Inventory 4,000 3,000 Prepaid rent 150 300 Plant and equipment 14,500 12,000 Less: Accumulated depreciation (5,100 ) (4,500 ) ________________________________________ ________________________________________ ________________________________________ ________________________________________ ________________________________________ ________________________________________ Total assets $ 23,400 $ 15,200 ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ Liabilities and Shareholders