17. 4 00 24.00 points XS Supply Company is developing its annual financial statements at December 31, 2010. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized 2009 Balance Sheet at December 31 28,300 29,100 38,200 100,100 $ 35,700 34,900 39,900 119,900 (29,200) Merchandise Inventory Property and Equipment (24,700) $201,200 $171,000 Accounts Payable Wages Payable Note Payable, Long-Term Contributed Capital Retained Earnings $ 34,800 1,000 37,500 88,000 39,900 27,500 1,550 43,000 74,650 24,300 $201,200 $171,000 Income Statement for 2010 Sales Cost of Goods Sold Other Expenses $122,900 68,600 38,700 Net Income $ 15,600 Additional Data a.Bought equipment for cash, $19,800 b.Paid S5,500 on the long-term note payable. c. Issued new shares of stock for $13,350 cash. d. No dividends were declared or paid. e.Other expenses included depreciation, $4,500; wages, $20,800; taxes, S5,800; other, $7,600 f. Accounts payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash