For the fiscal year ended December 31, 2015, Brace Incorporated reported: .Net income of $6,000, which includes . Depreciation expense totaling $1,200 A loss on sale of equipment of $200 The company did not use or receive cash for any investing or financing activities. Relevant excerpts from Brace's balance sheets for 2015 and 2014 are as follows: Accounts Receivable Balance at Balance at Year-end Year-end 2015 2014 3,000 2,000 Inventory 2,000 4,000 Prepaid Insurance 620 700 Accounts Payable 1,200 1,000 Wages Payable 2,700 2,900 Unearned Revenue 900 600