Comparative balance sheets for 2021 and 2020 and a statement of income for 2021 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided. Assets Cash METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) Accounts receivable Inventory Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Patent Liabilities Accounts payable Accrued liabilities 2021 2020 410 $ 150 410 220 560 365 575 530 900 900 (200) (165) 2,650 2,330 (388) (360) 1,300 1,600 $ 6,217 $ 5,570 $ 660 $ 360 180 130 130 0 Lease liability-land Shareholders' Equity Common stock 3,160 3,000 Paid-in capital-excess of par Retained earnings 500 1,587 495 1,585 $ 6,217 $ 5,570 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue Gain on sale of land Expenses Cost of goods sold $ 2,551 45 $ 2,596 860 Depreciation expense-building 35 Depreciation expense-equipment 244 Loss on sale of equipment 10 Amortization of patent 300 Operating expenses Net income 550 1,999 $ 597