Assets WRIGHT COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in thousands) 2018 2017 Cash $ 42 $ 30 Accounts receivable 73 75 Short-term investment 40 15 Inventory 75 70 Land 50 60 Buildings and equipment 550 400 Less: Accumulated depreciation (115) (75) $715 $575 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable 22520 $ 28 $ 35 5 3 9 12 30 160 100 Bonds payable Shareholders' Equity Common stock 250 200 Paid-in capital-excess of par 126 100 Retained earnings 135 90 $715 $575 Revenues: WRIGHT COMPANY Income Statement For Year Ended December 31, 2018 ($ in thousands) Sales revenue $380 Expenses: Cost of goods sold $130 Salaries expense 45 Depreciation expense 40 Interest expense 12 Loss on sale of land 3 Income tax expense 70 300 Net Income $ 80