The Scenario:

Information from Halloran Company's Income Statement and Balance Sheets for the years 2013-2017 is presented.

HALLORAN COMPANY Comparative Income Statements For Years Ended December 31, 2017-2013 ($ thousands) 2017 2016 2015 2014 2013 Sales $ 1,271 $ 1,122 $ 1,028 S 948 S 890 Cost of goods sold $ 935 774 S 677 $ 602 S 564 Gross profit 336 348 351 347 326 Operating expenses S 248 S 192 S 176 S 128 S 110 Net income 89 S 156 S 176 S 219 $ 216 HALLORAN COMPANY Comparative Balance Sheets December 31, 2017-2013 ($ thousands) 2017 2016 2015 2014 2013 Assets Cash 58 $ 59 S 62 S 63 S 66 Accounts receivable, net S 368 386 350 S 270 S 239 Merchandise inventory $ 1,379 $ 1,023 S 903 774 S 702 Other current assets $ 27 24 S 11 S 26 21 Long-term investments S S 110 S 110 Plant assets, net $ 1,515 $ 1,511 $ 1,314 S 708 $ 734 Total assets $ 3,346 $ 3,002 $ 2,639 $ 1,950 $ 1,871 Liabilities and Equity Current liabilities S 915 $ 782 $ 539 $ 461 $ 410 Long-term liabilities S 971 855 S 834 S 428 435 Common stock S 750 S 750 S 750 S 638 S 638 Other paid-in capital 202 S 188 S 188 128 128 Retained earnings 509 S 428 S 329 S 297 S 261 Total liabilities and equity $ 3,346 $ 3,002 $ 2,639 $ 1,950 $ 1,871