Common Stock formation applies to the questions displayed below.) The following information for the year ended December 31, 2016, was reported by Nice Bite, Inc. Accounts Payable Accounts Receivable Cash (balance on January 1, 2016) Cash (balance on December 31, 2016) $50,000 27,800 108,400 94,000 157,500 Dividends Equipment 141,700 Income Tax Expense 10,600 Interest Expense 30,000 Inventory 17,700 Notes Payable 28,800 Prepaid Rent 7,500 Office Expense 14,800 Retained Earnings (beginning) 8,800 Salaries and Wages Expense 36,200 Service Revenue 147,800 Utilities Expense 25,600 Salaries and Wages Payable 13,000 Other cash flow information: Cash from issuing common stock 26,000 Cash paid to reacquire common stock 29,300 Cash paid for income taxes 11,500 Cash paid to purchase long-term assets 57,400 Cash paid to suppliers and employees Cash received from customers 89,200 147,000