Computer Service and Repair was started five years ago by two college roommates. The company's comparative balance sheets and Income statement are presented below, along with additional information. Balance Sheet at December 31 Cash Accounts receivable. Prepaid expenses Equipment Accumulated depreciation Wages payable Short-term note payable Common stock Retained earnings Current Year Prior Year $9,845 $ 13,095 1,550 670 950 135 690 0 (135) 0 $ 12,900 0 $ 520 215 4,400 17,765 $ 13,900 $1,950 4.400 7,550 $ 13,900 Income Statement for Current Year Service revenue Depreciation expense Salaries expense Other expenses Net income Additional Data: a. Prepaid expenses relate to rent paid in advance. Athar AURAN $ 12,900 $ 51,000 135 36,500 12,150 5 215