1.42 points Presented below is the 2016 income statement and comparative balance sheet information for Tiger Enterprises TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2016 (S in thousands) 7,900 Sales revenue Operating expenses Cost of goods sold Depreciation Insurance Administrative and other s 3,510 390 250 1,950 Total operating expenses 6,100 Income before income taxes Income tax expense 1,800 750 S 1,050 Net income Dec. 31 2015 Dec Balance Sheet Information (S in thousands) 3.2 Assets: Cash Accounts receivable Inventory Prepaid insurance Plant and equipment $ 450 900 790 125 2,850 (1,140) S 350 980 750 95 2,550 (750) Less: Accumulated depreciation $ 3,975 3,975 Total assets Liabilities and Shareholders' Equity: Accounts payable s 510 550 300 750 950 915 $ 450 450 istrativea Income taxes payable Note payable (due 12/31/2017) Common stock Retained earnings 950 1,050 725 $ 3,975 s 3,975 Total liabilities and shareholders' equity Type here to search