A skeleton of Kathey’s Florals’ income statement appears as follows (amounts in thousands):

Income Statement

Net sales .................$ 7,300

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

Selling expenses .............. 1,502

Administrative expenses .......... 1,300

Interest expense .............. (b)

Other expenses ............... 156

Income before taxes ............ 1,038

Income tax expense ............ (c)

Net income ................ $ (d)

Use the following ratio data to complete Kathey’s Florals’ income statement:

a. Inventory turnover was 3 (beginning inventory was $800; ending inventory was $772).

b. Rate of return on sales (after income taxes) is 0.08.