The income statement and selected balance sheet information for Direct Products Company for the year ended December 31 are presented below.

Income Statement $52,600 Sales Revenue Expenses 23,000 Cost of Goods Sold 2,400 Depreciation Expense Salaries and Wages Expense 9,400 4,900 Rent Expense Insurance Expense 2.100 2,000 Interest Expense 1,600 Utilities Expense 7,200 Net Income Selected Balance Sheet Accounts Ending Beginning Balances Balances 580 620 Accounts Receivable 950 Inventory 750 440 500 Accounts Payable Prepaid Rent 24 33 29 36 Prepaid Insurance Salaries and Wages Payable 92 56 28 Utilities Payable 19