The comparative balance sheets for $2024$ and $2023$ and the statement of income for $2024$ are given below for Wright Company. Additional information from Wright's accounting records is provided also.

$\backslash$table$[[\backslash$table$[[$WRIGHT COMPANY$],[$Comparative Balance Sheets$],[$December $31,2024$ and $2023],[($$ in thousands$)]]],[,2024,2023],[$Assets $2023],[$Cash$,$$ $42,$$ $30],[$Accounts receivable,$73,75],[$Short$-$term investment,$40,15],[$Inventory$,75,70],[$Land$,50,60],[$Buildings and equipment,$550,400],[$Less: Accumulated depreciation,$(115),(75)],[,$$ $715,575],[$Liabilities$],[$Accounts payable,$ $28,$$ $35],[$Salaries payable,$2,5],[$Interest payable,$5,3],[$Income tax payable,$9,12],[$Notes payable,$0,30],[$Bonds payable,$160,100],[$Shareholders$\text{'}$ Equity,,$],[$Common stock,$250,200],[$Paid$-$in capital$-$excess of par,$126,100],[$Retained earnings,$135,90],[,$$ $715,$$ $575]]$

WRIGHT COMPANY

Income Statement