Presented below is the $2024$ income statement and comparative balance sheet information for Tiger Enterprises.

TIGER ENTERPRISES

Income Statement

For the Year Ended December $31,2024$

$($ $ in thousands$)$

Sales revenue

$$7,600$

Operating expenses:

Cost of goods sold

Depreciation expense

Insurance expense

General and administrative expense

Total operating expenses

Income before income taxes

Income tax expense

Net income

Balance Sheet Information $($ $ in thousands$)$

December $31,$

December $31,$

Assets:

Cash

Accounts receivable

Inventory

Prepaid insurance

Equipment

Less: Accumulated depreciation

Total assets

Liabilities and Shareholders' Equity:

Accounts payable

Accrued liabilities $($for general & administrative expense$)$

Income taxes payable

Notes payable $($due $12/31/2025)$

Common stock

Retained earnings

Total liabilities and shareholders' equity

$\backslash$table$[[$$$400,$$$300$