Suppose Vulture Sporting Goods Company reported the following data at March 31, 2010, with amounts in thousands:

Use these data to prepare Vulture Sporting Goods Company’s income statement for the year ended March 31, 2010; statement of retained earnings for the year ended March 31, 2010; and classified balance sheet at March 31, 2010. Use the report format for the balance sheet.
Draw arrows linking the threestatements.

Transcribed Image Text:

Retained earnings, March 31, 2009.. Accounts receivable.... Net revenues Total current liabilities.. All other expenses... Other current assets.. Other as Cost of goods sold$136,800 1,300 6,000 27,000 37,000 12,500 2,000 28,200 Property and equipment, net.. 174,000 Common stock 53,000 Inventories 26,000 Long-term liabilities 5,200 Divi 28,000