2 005241 XS Supply Company is developing its annual financial statements at December 31. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized Current Year Previous Year Halance Sheet at December 31 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation-Equipment! Total Assets Accounts Payable Salaries and Mages Payable Notes Payable (long-tare)) Common Stock Retained Earnings Total Liabilities and Stockholders' Equity Income Statement Service Revenue Cost of Goods Sold Other Expenses $ 33,860 34,800 40,000 115,500 (29,500) $199,160 $ 35,800 1,20 37,100 58,000 $28,050 27,900 37,900 99,000 (24,900) $168,750 $ 26,900 1,450 43,000 72,500 37,000 24,500 $ 199,160 $168,750 $ 119,000 69,500 37,400 $ 12,100 Additional Date: a. Bought equipment for cash, $20,500, Paid $5,900 on the long-term notes payable. c. Issued new shares of stock for $15,500 cash d. No dividends were declared or paid. e. Other expenses included depreciation, $4.900, salaries and wages, $19,900; taxes, $5,900; utilities, $6,700, Accounts Payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes of other expenses, assume that these expenses were fully paid in cash.