The management team of Wickersham Brothers Incorporated is preparing its annual financial statements. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statements are summarized Balance Sheet Asset Cest Current Year Prior Year Accounts Receivable $78,900 100,000 $99,300 54,500 Inventory 81,000 87,750 Property and Equipment 152,000 81,000 Less Accumulated Depreciation (43,280) 22,000) Total assets $376,620 $340,550 Liabilities: Accounts Payable $13,500 $16,200 Salaries and ages Payable 2,700 1,350 Notes Payable, Long-Tere 67,500 81,000 Stockholders' Equity Common Stock Retained Earnings 125,000 164,920 108,000 134,000 Total Liabilities and Stockholders $376,620 $340,550 Income Statement Sales Cost of Goods Sold $340,000 160,000 Depreciation Expense Other Expenses Net Income 21,280 85,000 5.53,720 Other information from the company's records includes the following Bought equipment for cash, $71,000. Paid $13,500 on long-term note payable Issued new shares of common stock for $20,000 cash Cash dividends of $22,800 were declared and paid to stockholders Accounts Payable arose from inventory purchases on credit Income tax expense ($13,430) and interest expense ($4,050) were paid in full at the end of both years and are included in Other Expenses