S The comparative balance sheets for 2024 and 2023 and the statement of income for 2024 are given below for Wright Company. Additional information from Wright's accounting records is provided also. Assets Cash Accounts receivable Short-term investment Inventory Land Buildings and equipment Less: Accumulated depreciation Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings Revenues: WRIGHT COMPANY Comparative Balance Sheets December 31, 2024 and 2023 ($ in thousands) Sales revenue Expenses: Net income Cost of goods sold Salaries expense Depreciation expense Interest expense Loss on sale of land Income tax expense 2024 WRIGHT COMPANY Income Statement For Year Ended December 31, 2024 ($ in thousands) $ 125 151 56 740 (211) $ 1,130 155 114 $ 290 95 56 19 4 96 435 200 99 $ 1,130 $ 46 4 5 9 0 332 2023 $ 640 560 $80 $ 110 155 20 150 140 560 (155) 980 $ 51 7 4 13 36 260 360 180 69 $ 980 Additional information from the accounting records: a. Land that originally cost $26,000 was sold for $22,000. b. The common stock of Microsoft Corporation was purchased for $36.000 as a short-term investment not classified as a cash

The comparative balance sheets for 2024 and 2023 and the statement of income for 2024 are given below for Wright Company Additional information from Wright's accounting records is provided also. Addetwinat informotion from the accounthig records: a. Lend that originally cost $26000 was sola for $22000