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Thompson Turf Trimmers, Inc., reported the following financial statements for 2018: (Click the icon to view the income statement (Click the icon to view the
Thompson Turf Trimmers, Inc., reported the following financial statements for 2018: (Click the icon to view the income statement (Click the icon to view the comparative balance sheets.) Calculate the following; enter all amounts in thousands a. Payments to employees b. Payments of other expenses X Reference Thompson Turf Trimmers, Inc. Income Statement Year Ended December 31, 2018 (In thousands) Service revenue $ 790 Cost of goods sold 400 Salary expense 30 Depreciation expense 10 Other expenses 200 Total expenses 640 Net income $ 150 - X Reference Thompson Turf Trimmers, Inc. Comparative Balance Sheets December 31, 2018 and 2017 (In thousands) Assets Current: 2018 2017 Liabilities 2018 2017 Current: Cash $ 24 $ $ 56 $ 46 53 29 25 75 20 Accounts payable 48 Salary payable 86 Accrued liabilities 11 Long-term note payable 182 16 Accounts receivable Inventory Prepaid expenses Plant assets, net Long-term investments 19 12 67 54 223 61 80 Stockholders' Equity Common stock 48 38 232 245 Retained earnings 427 Total $ 448 $ Total $ 448 $ 427 Please explain how you get your answer & please make sure its correct. Thank you
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