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  3. presented below is the 2018 income statement and c

Presented below is the 2018 income statement and comparative balance sheet information for Tiger Enterprises...

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Accounting

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Presented below is the 2018 income statement and comparative balance sheet information for Tiger Enterprises TIGER ENTERPRISES Income Statement For the Year Ended December 3l, 2018 ($ in thousands) Sales revenue Operating expenses: $7,660 Cost of goods sold $ 3,470 350 210 1,910 Depreciation Insurance Administrative and other Total operating expenses 5.940 Income before income taxes Income tax expense Net income 1,720 710 $1,010 Balance Sheet Information ($ in thousands) AssetS: Cash Accounts receivable Inventory Prepaid insurance Plant and equipment Dec. 31,2018 Dec. 31, 2017 $410 860 750 105 2,650 $ 310 940 710 75 2,350 710 Less Accumulated depreciation (1,060) Total assets 3,715 $3,675 Liabilities and Shareholders' Equity: Accounts payable Payables for administrative and other expenses Tncome taxes navable $ 410 410 310 $ 470 510 260

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