Smithson Corporation had the following selected balance sheet changes for the past?year:

Assets and contra - ASSETS Increase ! ( Decrease* Cash 547, 000 Accounts receivable $13.000 Inventory $15,000 Prepaid expenses $ 17, 300) Accumulated depreciation $1 1,000 Liabilities Increase ! ! Decrease* Accounts payable 525, 000 Wages payable 5 / 12.000) Taxes payable $13.00 0