The following highly condensed income statements and balance sheets are available for Budget Stores for a two-year period. (All amounts are stated in thousands of dollars.)

Income Statements	2016	2015
Revenues	$20,000	$15,000
Cost of goods sold	13,000	10,000
Gross profit	$7,000	$5,000
Operating expenses	3,000	2,000
Net income	$4,000	$3,000

Balance Sheets	December 31, 2016	December 31, 2015
Cash	$1,700	$1,500
Inventory	4,200	3,500
Other current assets	2,500	2,000
Long-term assets	15,000	14,000
Total assets	$23,400	$21,000
Liabilities	$8,500	$7,000
Capital stock	5,000	5,000
Retained earnings	9,900	9,000
Total liabilities and stockholders equity	$23,400	$21,000

Before releasing the 2016 annual report, Budgets controller learns that the inventory of one of the stores (amounting to $600,000) was inadvertently omitted from the count on December 31, 2015. The inventory of the store was correctly included in the December 31, 2016, count.

Required:

1. Prepare revised income statements for Budget Stores for each of the two years. Ignore the effect of income taxes. Enter answers in thousands of dollars.

Budget Stores
Income Statement
For the Years 2015 and 2016
	2016	2015
Revenues	$	$
Cost of goods sold
Gross profit	$	$
Operating expenses
Net income	$	$

Prepare revised balance sheets for Budget Stores for each of the two years. Ignore the effect of income taxes. Enter answers in thousands of dollars.

Budget Stores
Balance Sheet
For the Years 2015 and 2016
	12/31/16	12/31/15
Cash	$	$
Inventory
Other current assets
Long-term assets
Total assets	$	$
Liabilities	$	$
Capital stock
Retained earnings
Total liabilities and stockholders' equity	$	$