Current Attempt in Progress The current assets and liabilities sections of the comparative balance sheet of Wildhorse Inc., a private company reporting under ASPE, at October 31 are presented below, along with the income statement: WILDHORSE INC. Comparative Balance Sheet Accounts 2021 2020 Cash $64,350 $68,250 Accounts receivable 41.600 26,650 Inventory 21.125 29.900 Prepaid expenses 4,875 3.770 Accounts payable 27,950 23.400 Accrued expenses payable 3.250 5.200 Dividends payable 15,600 11,050 Income taxes payable 4420 7670 WILDHORSE INC. Income Statement Year Ended October 31, 2021 Sales $406,250 Cost of goods sold 253,500 Gross profit 152,750 Operating expenses $57,200 Depreciation expense 14,950 Loss on sale of equipment 5,200 77,350 Profit before income taxes 75,400 Income taxes 18,850 Profit $56,550 WILDHORSE INC. Cash Flow Statement (Partial) Adjustments to reconcile profit to