Please explain step by step, please.

1. Zambrano Wholesale Corporation maintains its records on a cash basis. At the end of each year the company's accountant obtains the necessary information to prepare accrual basis financial statements. The following cash flows occurred during the year ended December 31, 2013: Cash receipts: From customers $ 675,000 4,000 Interest on note Loan from a local bank 100,000 Total cash receipts $ 779,000 Cash disbursements: Purchase of merchandise Annual insurance payment $ 390,000 6,000 Payment of salaries 210,000 Dividends paid to shareholders 10,000 Annual rent payment 24,000 Total cash disbursements $ 640,000 12/ 31/12 12/ 31/ 13 $ 164,000 92,000 62,000 ? ? ? Cash Accounts receivable Inventory Prepaid insurance Prepaid rent Interest receivable Note receivable Equipment Accumulated depreciation equipment Accounts payable (for merchandise) Salaries payable Note payable Interest payable $ 25,000 62,000 80,000 2,500 11,000 3,000 50,000 100,000 ( 40,000) 110,000 20,000 -0- 50,000 100,000 (50,000) 122,000 24,000 100,000 -0- ? Determine the following balance sheet amounts on December 31, 2013: 1. Sales revenue: 1 2 Inventory purchase and cost of goods sold 3 Salaries expense