The Extra Surplus Company's Balance Sheet for December 31, 2015 and the Income Statement for 2016 are shown below Extra Surplus Company Balance Sheet December 31, 2015 Assets Cash Accounts Receivable Inventory Property and Equipment, Net $ 13,000 6,500 15,600 26,000 S 61,100 Liabilities and Stockholders' Equity Accounts Payable Notes Payable, Long-Term Common Stock Retained Earnings $ 13,000 6,500 26,000 15,600 $ 61,100 Extra Surplus Company Income Statement For the Year Ended December 31, 2016 Sales Cost of Goods Sold Salaries and Wage Expense Interest Expense Other Expenses $20,800 4,800 4,800 1,600 800 Net Income $ 8,800