The income statement and selected balance sheet information for Direct Products Company for the year ended December 31 are presented below. Sales Revenue $48,600 Cost of Goods Sold 21,000 2,000 Salaries and Wages Expense9,000 4,500 1.900 1,800 1,400 Rent Expense Interest Expense Net Income s 7,000 Selected Balance Sheet Accounts Ending Beginning Balances Balances Accounts Receivable Inventory Accounts Payable Prepaid Rent Prepaid Insurance Salaries and Wages Payable Utilities Payable S 580 S 580 990 770 460 20 28 420 25 25 100 20 15 method. (Amounts to be deducted should be indicated with a minus sign.) 31