4516.00 points 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 Yer Year Previous Balance Sheet at December 31 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation-Equipment $ 33,300 28,250 27,500 37,500 95,000 (29,000) (24,500) 34,000 40,000 113.500 $191,800 $163,750 Accounts Payable Salaries and Wages Payable Note Payable (long-term) Common Stock Retained Earnings $ 35,000 1,500 33,500 85,600 36,200 26,500 1,650 39,000 72,100 24,500 $ 191,800 $163,750 Income Statement Sales Revenue Cost of Goods Sold Other Expenses $115,000 67,500 35,800 Net Income $ 11,700