URGENT

3 required questions

The income statement and balance sheet for AVILA, Inc. are provided below. (Note that the reported figures in the statements are expressed in thousands of dollars.) Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets AVILA, INC. Balance Sheets as of December 31, 2020 and 2021 (in 000s) 2020 2021 Assets Sales Cost of goods sold $ 210 $ 180 325 325 180 315 $715 $820 $ 1,500 $1,650 AVILA, INC. 2021 Income Statement (in 000s) 1,350 850 Current liabilities Accounts payable Notes payable Total 2020 Liabilities and Owners' Equity Long-term debt Owners' equity Common stock Accumulated retained earnings Total $2,215 $2,470 Total liabilities and owners' equity