Income Statement
For the Quarter ended 3/31/24
Revenue
Net sales		$ 84,310
Cost of sales		$ (52,279)
Gross Profit		$ 32,031
Expenses
Operating Expenses:
Research & development	$ 3,902
Selling, general & administrative	$ 4,783
Interest expense	$ 890
Total Operating Expenses:		$ 9,575
Operating Income:
Interest & Dividend income	$ 1,307
Realized loss on investments	$ (79)
Other income (expense)		$ 222
Total Other Income (expenses):		$ 1,450
Income Before Taxes		$ 23,906
Income Tax Expense	$ (3,896)
Net Income	$ 20,010

Raven Inc.
Statement of Cash Flows
For the Quarter ended 03/31/2024
Cash flows from operatiing activities:
Net income	$ 20,010
Adjustments for noncash effects:
Depreciation expense
Changes in operating assets and liabilities:
Increase in Accounts Receivable	$ (5,109)
Increase in Inventory	$ (1,032)
Decrease in Non-trade Receivables	$ 6,905
Increase in Other Current Assets	$ 345
Increase in Accounts Payable	$ 11,595
Increase in Otherr Current Liabilities	$ 4,016
Decrease in Deferred Revenue	$ (1,997)
Net cash flows from operating activities		$ 34,733
Cash flows from investing activities:
Purchase of Marketable Securities	$ (10,923)
Purchase of Property, Plant and Equipment	$ -
Sale of Investments	$ -
Net cash flows from investing activities		$ (10,923)
Cash flows from financing activities:
Issuance of Commercial Paper	$ 5
Issuance of Term Debt	$ 988
Payment of Dividends	$ (9,766)
Net cash flow from financing activities		$ (8,773)
Net increase in cash		$ (15,037)
Cash, Beginning Balance		$ 11,575
Cash, Endiing Balance		$ (26,612)

Classified Balance Sheet
As of 03/31/2024
Assets			Liabilities and Shareholders' Equity
Current Assets:			Current Liabilities:
Cash and Cash Equivalents	$ 44,771		Accounts Payable	$ 44,293
Marketable Securities	$ 41,656		Other Current Liabilities	$ 36,703
Accounts Receivables, Net	$ 18,077		Deferred Revenue	$ 5,546
Inventories	$ 4,988		Commercial paper	$ 11,969
Non-trade Receviables	$ 18,904		Term Debt	$ 9,772
Other current Assets	$ 12,432		Total Current Liabiilities:		$ 108,283
Total Current Assets:		$ 140,828	Non-Current Liabilities:
Non-Current Asset:			Notes payable, long-term	$ 92,989
Marketable securities - long-term	$ 158,608		Long-term taxes payable	$ 30,948
Property, plant and equipment	$ 39,597		Other noncurrent liabilities	$ 23,607
Other non-current assets	$ 34,686		Total Non-Current Liabiilities:		$ 147,544
Total Non-Current Assets:		$ 232,891	Total Liabilities		$ 255,827
Total Assets	$ 373,719	Shareholders' Equity
			Common Stock	$ 40,970
			Retained Earnings	$ 70,400
			Accumulated Other Comprehensive Income	$ 3,454
			Total Shareholders' Equity:		$ 114,824
			Total Liabbilities and Shareholders' Equity	$ 370,651
Raven Inc.
Comprenhensive Income Statement
For the Quarter ended 3/31/24
Net Income		$ 20,010
Other Comprehensive Income:
Unrealized gain on marketable securities	$ 176
Loss on foreign currency translation	$ (94)
Unrealized loss on derivatives	$ (350)
Total Other Comprehensive Income:		$ (268)
Comprehensive Income	$ 19,742
Raven Inc.
Statement of Shareholders' Equity
For the Quarter ended 3/31/24
Common stock		$ 40,970
Retained earnings		$ 70,400
Dividends	$ 9,766
Accumulated other comprehensive income	$ 3,454
Totak Shareholders' Equity	$ 124,590

Review the financial statements and identify accounts for which you need to request additional information to determine income tax expense, liability, and deferred taxes.
List the accounts and the information required.
Note: the tax rate is 20%