Presented below are the $2024$ income statement and comparative balance sheets for Santana Industries.

SANTANA INDUSTRIES

Income Statement

For the Year Ended December $31,2024$

$($$ in thousands$)$

$\backslash$table$[[$Sales revenue,$$16,250,],[$Service revenue,$5,400,],[,$ Total revenue,,$],[$Operating expenses:,$21,650,],[$Cost of goods sold,$8,200,],[$Selling expense,$3,400,],[$General and administrative expense,$2,500,],[,$ Total operating expenses,$14,100,],[$Operating income,$7,550,],[$Interest expense,,$250],[$Income before income taxes,$7,300,],[$Income tax expense,$2,600,],[$Net income,,$]]$

$\backslash$table$[[$Balance Sheet Information $($ $ in thousands$),\backslash$table$[[$December$],[31,2024]],\backslash$table$[[$December$],[31,2023]]],[$Assets:$],[$Cash$,$$$9,300,$$$3,100$