Victoria Medical Service reported the following selected items (amounts in thousands):

Unearned revenues (current)

$ 207

Service revenue

$8,613

Allowance for

Other assets

767

doubtful accounts

109

Property, plant, and equipment

3,316

Accounts receivable

2,569

Operating expense

1,620

Accounts payable

817

Cash

239

Other expenses

385

Notes payable (long term)

719

1. Classify each item as (a) income statement or balance sheet and as (b) debit balance or credit balance.

2. How much net income (or net loss) did Victoria earn for the year?

3. Compute Victoria’s current ratio. Round to 2 decimal places.