Presented below is the 2018 income statement and comparative balance sheet information for Tiger Enterprises TIGER ENTERPRISES Income Statement For theYear Ended December 31, 2018 $ in thousands) ales revenue $ 7,000 Operating expenses: Cost of goods sold Depreciation Insurance Administrative and other $ 3,360 240 100 1,800 5,500 1,500 600 Total operating expenses Income before income taxe:s Income tax expense Net income $ 900 Balance Sheets $ in thousands) Dec. 31,2018 Dec. 31, 17 Assets Cash Accounts receivable Inventory Prepaid insurance Plant and equipment $ 300 750 640 $ 200 830 600 2,100 848 $ 3,000 1,800 600 Less: Accumulated depreciation Total assets $ 2,850 Liabilities and Shareholders' Equity: Accounts payable Payables for administrative and other expenses Income taxes payable Note payable Common stock $ 300 300 200 800 900 500 $ 360 400 150 600 800 540 4 Retained earnings Total liabilities and shareholders' equity $ 3,000 $ 2,850