Balance Sheet at December 31 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation-Equipment Total Assets Accounts Payable Salaries and Wages Payable Notes Payable (long-term) Common Stock Retained Earnings Total Liabilities and Stockholders' Equity Income Statement (current year) Sales Revenue Cost of Goods Sold Other Expenses Net Income Additional Data: a. Bought equipment for cash, $9,200. b. Paid $12,000 on the long-term notes payable. c. Issued new shares of stock for $21,000 cash. d. Declared and paid a $4,000 cash dividend. Current Year Prior Year $ 44,580 28,800 31,800 113,200 (37,200) $ 181,1801 $ 26,200 780 38,000 83,000 33,200 $181,180 $ 102,000 62,000 27,800 $ 12,200 $ 19,000 31,000 38,000 104,000 (31,000) $ 161,000 $ 23,000 1,000 50,000 62,000 25,000 $161,000. e. Other expenses included depreciation, $6,200; salaries and wages, $10,200; taxes, $3,200; utilities, $8,200. 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.