Sharp Screen Films, Inc., is developing its annual financial statements at December 31, 2015. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows: Sharp Screen Fims, Inc, is developing its annual financial statements at December 31, 2015. The 2015 2014 Balance sheet at December 31 Cash Accounts receivable Merchandise inventory Property and equipment Less: Accumulated depreciation 66,650 S65,000 16,950 23,750 18,800 211,050 153,200 (60,700) (46,650) $257,700 $214,100 Accounts payable Wages payable Note payable, long-term Contributed capital Retained earnings $ 10,700 21,000 4,300 3,900 73,400 61,900 73,40 100,800 66,600 48,800 80,400 $257,700 $214,100 Income statement for 2015 Sales Cost of goods sold Depreciation expense Other expenses $202,000 99,000 14,050 43,700 Net income $ 45,250 Additional Data: a. Bought equipment for cash, $57,850. b. Paid $11,500 on the long-term note payable. c. Issued new shares of stock for $34,200 cash. d. Dividends of $13,650 were declared and paid. e. Other expenses all relate to wages. Accounts payable includes only inventory purchases made on credit