Incomplete and adapted versions of the financial statements of Beach Paradise Corp. follow (amounts in thousands).

Ratio data:

• Current ratio at December 31, 2017, is 0.7547.

• Inventory turnover for 2017 was 5.284.

• Debt ratio at December 31, 2017, is 0.5906.

BEACH PARADISE CORP.

Income Statement

For the Year Ended December 31, 2017

Net sales ...........................$32,548

Cost of goods sold ................... (a)

Gross margin ........................... (b)

Selling and general expenses ........ 13,624

Other expense (income) .......... 480

Income before income tax .......... (c)

Income tax expense (35%) ........ (d)

Net income ........................... $ (e)

BEACH PARADISE CORP.

Cash Flow Statement

For the Year Ended December 31, 2017

Net cash inflow from operating activities ..............$ 6,640

Net cash outflow from investing activities ........... (2,420)

Net cash outflow from financing activities ............. (4,094)

Net increase (decrease) in cash during 2017 ............ $ (n)

Required
Complete the financial statements. Start with the income statement. Then go to the cash flow statement. Complete the balance sheet last.

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BEACH PARADISE CORP Balance Sheet December 31, 2017 and 2016 2017 2016 Assets Current assets: $2,528 1,702 2,984 2,196 204 9,614 17,336 $26,950 Cash $ (f) 1,702 3,600 2,428 Short-term investments Receivables, net Inventories Prepaid expenses Total current assets Property, plant, and equipment, net Total assets Liabilities Current liabilities Long-term liabilities 19,632 $14,204 $11,684 4,416 16,100 G) Total liabilities Shareholders' Equity Common shareholders' equity Total liabilities and shareholders' equity 10,850 S (m$26,950