Sharp Screen Films, Incorporated, 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: Additional Data: a. Bought equipment for cash, $60,550. b. Paid $15,390 on the long-term note payable. c. Issued new shares of stock for $35,000 cash. d. Dividends of $760 were declared and paid. e. Other expenses all relate to wages. f. Accounts payable includes only inventory purchases made on credit