SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue Service revenue $16,250 5,400 Total revenue $21,650 Operating expenses: Cost of goods sold 8,200 Selling expense 3,400 General and administrative expense 2,500 Total operating expenses 14,100 Operating income 7,550 Interest expense 250 Income before income taxes 7,300 Income tax expense 2,600 Net income $ 4,700 Balance Sheet Information ($ in thousands) Assets: Cash Accounts receivable Inventory Prepaid rent Equipment Less: Accumulated depreciation Total assets Liabilities and Shareholders' Equity: Accounts payable Interest payable Deferred revenue Dec. 31, Dec. 31, 2021 2020 $ 9,300 $ 3,100 4,500 6,000 3,200 4,000 250 500 16,500 14,000 (6,100) (5,500) $30,450 $19,300 $ 2,100 700 $ 3,400 200 1,000