Incomplete and adapted versions of the comparative financial statements of Canadarch Ltd. follow (amounts in thousands):

CANADARCH LTD.
Cash Flow Statement
For the Year Ended May 31, 2017
Net cash inflow from operating activities ...........$4,324
Net cash outflow from investing activities ..........(2,464)
Net cash outflow from financing activities .........(1,130)
Net increase (decrease) in cash during 2017 ....... $ (n)
Ratio data:
• Current ratio at May 31, 2017, is 0.9276, or 92.76 percent.
• Inventory turnover for the year ended May 31, 2017, is 11.362.
• Debt ratio at May 31, 2017, is 0.7521, or 75.21 percent.
Required
Complete the financial statements. Start with the income statement, and then go to the cash flow statement. Complete the balance sheet last.

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CANADARCH LTD Income Statement For the Year Ended May 31,2017 Net sales Cost of goods sold Gross margin Selling and general expe Other expense (income) Income before income tax Income tax expense (25%) Net income $ 30,718 9,654 1,130 nses $ (e) CANADARCH LTD Balance Sheet May 31, 2017 and 2016 Assets 2017 2016 Current assets Cash Short-term investments Receivables, net Inventories Prepaid expenses $ (f) $ 300 1,630 3,726 1,046 168 6,870 19,248 $ (i) $26,118 1,852 4,224 1,300 Total current assets Property, plant, and equipment, net Total assets Liabilities Current liabilities Long-term liabilities Total liabilities Shareholders' Equity Common shareholders' equity Total liabilities and shareholders' equity $9,270 $ 7,434 ) 15,964 (k) 23,398 2,720 $ (m) $26,118