5. The Exra Surplus Company's Balance Sheet for December 31, 2015 and the Income Statement for 2016 are shown below Assets s 15,000 7.500 18,000 30,000 Cash Property and Equipment, Net s 70,500 Liabilities and Stockholders' Equity Accounts Payable Notes Payable, Long-Term Common Stock Retained Eamings S 15,000 7.500 30,000 18,000 S 70.500 Extra Surplus Company Income Statement the Year Ended December 31, 2010 Sales Cost of Goods Sold Salaries and Wage Expense Interest Expense Other Expenses 3 26,000 6,000 6.000 2.000 1.000 Net income 3 11,000 Additions data Sales were 328,000: $16.000 in cash was received from customers Bought new land for cash. 320.000 Soid other land for its book value of $10,000 Pad 32.000 pinsipai on the long-term note payable and $2.000 in interest Issued new shares of stock for $20 000 cash Cash dividends of $3.000 were deciared ano paid to stockholders Paid 311 800 on accounts payable. No inyentory Purchsaes were made, o All wsges were paid in cash Other expenses were on account other expenses were incurred on accoun Required: a Prepare a bs ance shee: at Decsmber 31 2016 EXTRA SURPLUS COMPA Balance Sheet at December 3t O Type here to search