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  3. hyrkas corporation's most recent balance sheet and

Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31,...

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Accounting

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Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 $ 155 230 200 20 605 790 $ 1,395 $ 200 250 170 20 640 780 $ 1,420 Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current Liabilities Bonds payable Total Liabilities Stockholders' equity Common stock, $2 par value Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities & stockholders' equity $ 170 50 40 260 168 $ 200 50 40 290 190 480 420 200 330 445 975 $ 1,395 200 330 410 940 $ 1,420 Incone Statenent For the Year Ended December 31, Year 2 in thousands of dollars) Sales (all on account) Cost of goods sold Gross margin Selling and administrative expense Net operating income Interest expense Net income before taxes Income taxes (304) $ 1,210 740 470 345 125 20 105 32

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