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: 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 Current Year Prior Year $ 64,850 15,750 22,850 209,450 $ 63,700 22,850 (59,500) $253,400 18,200 150,700 (45,950) $209,500 Additional Data: a. Bought equipment for cash, $58,750. b. Paid $10,800 on the long-term note payable. c. Issued new shares of stock for $33,200 cash. d. Dividends of $13,950 were declared and paid. e. Other expenses all relate to wages. f. Accounts payable includes only inventory purchases made on credit. $ 9,400 $ 19,700 2,500 3,000 60,600 71,400 99,300 66,100 81,600 49,300 $253,400 $209,500 $197,000 94,000 13,550 43,200 $ 46,250