The condensed financial statements of Wildhorse Co. for the years 2019 and 2020 are presented as follows. (Amounts in thousands.) WILDHORSE CO. Balance Sheets December 31 2020 2019 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 600 530 Inventory 610 540 Prepaid expenses 120 160 Total current assets 1,660 1,590 Investments 140 140 Property, plant, and equipment 420 380 Intangibles and other assets 530 510 Total assets $2,750 $2,620 Current liabilities $1,030 $920 Long-term liabilities 560 530 Stockholders' equity-common 1,160 1,170 Total liabilities and stockholders' equity $2,750 $2,620 WILDHORSE CO. Income Statements For the Years Ended December 31 Sales revenue 2020 2019 $3,950 $3,610 Costs and expenses Cost of goods sold 1,085 1,020 Selling & administrative expenses 2,400 2,330 Interest expense 25 20 Total costs and expenses 3,510 3,370 Income before income taxes 440 240 Income tax expense 132 72 Net income $308 $168