Question $1$

Information about a company's historical performance for the last two years and additional

information are summarized in the following table.

Industry sales are expected to increase $5\%,$ and the company expects to maintain its current market

share and gross profit margin. Operating expenses are not expected to change with the increase in sales.

The company sold off its portfolio of marketable securities in $2022$ and used the funds to purchase

operating assets. In $2022,$ the company announced its intention to sell off a division, and that sale was

completed in $2023.$ The results from the division and the gain or loss incurred on the sale are classified

as discontinued operations.

What is the projected net income $($in thousands$)$ for $2024?$