mabled: REMOTE Exam 4 Sharp Screen Films, Inc., is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows: Current Year Balance sheet at December 31 Cash Accounts receivable Merchandise inventory Property and equipment Less: Accumulated depreciation Accounts payable Wages payable Note payable, long-term Common stock and additional paid-in capital Retained earnings Income statement for current year. Sales Cost of goods sold Depreciation expense Other expenses Net income Additional Data: a. Bought equipment for cash, $58,350. 900 on the long-term note payable. $67,050 17,650 $ 65,300 24,250 24,250 19,000 211,750 153,400 (61,100) (46,850) $259,000 $215,100 $ 11,200 $21,600 4,200 4,700 62,100 73,900 101,400 66,800 80,700 45,100 $259,600 $215,100 $204,000 101,000 14,250 43,900 $44,850 Save & Ext