Question
Selected comparative financial statement data for Tri Town Inc. are shown below. TRI TOWN INC. Statement of Financial Position (partial) December 31 (in thousands)
Selected comparative financial statement data for Tri Town Inc. are shown below. TRI TOWN INC. Statement of Financial Position (partial) December 31 (in thousands) Current assets 2021 2020 2019 Cash Trading investments 35 $ 30 $ 91 $ 60 55 60 40 Accounts receivable, net 669 588 492 Inventory 629 526 576 Prepaid expenses 41 52 29 Total current assets $ 1,424 $ 1,317 $ 1,197 Total current liabilities $ 875 825 756 Additional information: (in thousands) 2021 2020 2019 Allowance for doubtful accounts $ 50 $ 45 $ 40 Credit sales 4,169 3,915 3,701 Cost of goods sold 2,895 2,649 2,371
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