XS Supply Company is developing its annual financial statements at December 31. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Current Year Previous Year Balance Sheet at December 31 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation-Equipment $ 32,090 27,000 27,100 37,100 91,000 (28,200) (24,100) 33,200 39,200 107,500 $183,790 $158,100 Accounts Payable Salaries and Wages Payable Note Payable (long-term) Common Stock Retained Earnings 34,200 26,100 1,200 35,000 71,700 24,100 1,090 29,900 83,200 35,400 $183,790 $158,100 Income Statement Sales Revenue Cost of Goods Sold Other Expenses 111,000 65,500 34,200 Net Income 11,300