The condensed statement of changes in financial position and detailed income statement information (in $000) for Sandhill Consulting Ltd. follow.Sandhill contracts professionals in the electronic data management field and provides services to client around the globe. Assets Cash Accounts receivable Equipment (net) Goodwill 2020 $820 2,600 3,900 1,445 $8,765 2019 $535 1,950 3,300 940 $6,725 2018 $450 1.540 2,700 940 $5,630 Liabilities and Equity Accounts payable Long-term debt Share capital Retained earnings $1.250 4,800 880 1,835 $920 4,200 680 925 $6,725 $730 3,720 680 500 $5,630 $8,765 2019 Service revenue Contract labour 2020 $7,400 4,070 3,330 $5,550 3,060 2,490 540 2018 $4,400 2,400 2,000 410 270 630 430 390 140 160 120 70 61 50 30 27 Administrative expenses Travel expenses Marketing expense Depreciation expense Other expenses Total expenses Income from operations Interest expense Income before taxes Income taxes Net income 41 1,311 2,019 280 1,178 1,312 200 1,112 880 1,120 200 920 370 1,739 750 480 $989 $632 $550 2020 2019 2018 Service revenue % % % Contract labour TE % % % % % % % % % % % Administrative expenses Travel expenses Marketing expense Depreciation expense % % % % % Other expenses % % % % % % % % Total expenses Income from operations Interest expense Income before taxes TITE % % % % % % Income taxes % % Net income % % %