A skeleton of Heirloom Mills' income statement appears as follows (amounts in thousands):

Use the following ratio data to complete Heirloom Mills' income statement:

a. Inventory turnover was 5.5 (beginning inventory was S790; ending inventory was $750).

b. Rate of return on sales is 0.095.

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INCOME STATEMENT Net sales....... Cost of goods sold. Selling and administrative expenses Interest expense..... Other expenses Income before taxes. Income tax expense... Net income..... $7,200 (a) 1,710 (b) 150 1,000 (c) $ (d)