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. METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 Assets Cash $ 530 $ 255 Accounts receivable 650 340 Inventory 800 425 Land 600 555 Building 900 900 Less: Accumulated depreciation (200) (175) Equipment 3,250 3,050 Less: Accumulated depreciation (460) (420) Patent 1,500 1,650 $7,570 $6,580 Liabilities Accounts payable 900 $ 600 Accrued liabilities 300 245 Lease liability-land 130 0 Shareholders' Equity Common stock 3,620 3,500 Paid-in capital-excess of par 550 Retained earnings 2,070 445 1,790 $7,570 $6,580 Revenues METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2021 Sales revenue ($ in thousands) Gain on sale of land Expenses Cost of goods sold Depreciation expense-building $ 3,040 65 $3,105 1,100 25