Suppose Sparrow Sporting Goods Company reported the following data at March 31, 2012, with amounts in thousands:

Use these data to prepare Sparrow Sporting Goods Company's income statement for the year ended March 31, 2012; statement of retained earnings for the year ended March 31, 2012; and classified balance sheet at March 31, 2012. Use the report format for the balance sheet. Draw arrows linking the three statements.

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Retained earnings, March 31, 2011 21.500 Cost of goods 175,500 29,000 sol.d.$136,000 20,800 6,300 22,500 35,000 7,500 Total current liabilities All other expenses Property and equipment, net... Common stock Inventories 55,100 5,000 Long-term liabilities.... Other assets.... Dividends..