Sweet Inc. is a major retailer of road bicycles and a promoter of riding bicycles to work, both to save the environment and improve physical fitness. Financial statements for Sweet are presented below. SWEETINC. STATEMENT OF FINANCIAL POSITION December 31 Current liabilities The following is additional information concerning Sweet's transactions during the year ended December 31, 2024: - Equipment costing $40,000 was purchased by paying $34,700 cash and issuing 100 shares. - The "other expenses" relate to prepaid items. - In order to supplement its cash, Sweet borrowed an additional $40,000 and issued an additional 100 shares. - Cash dividends of $4,100 were paid at the end of the fiscal year. - Cost of sales includes $190,000 of direct labour costs