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: Balance Sheet at December 31 Cash Accounts Receivable Merchandise Inventory Property and Equipment Lens: Accumulated Depreciation Accounts Payable Wages Payable Note Payable, Long-Term Contributed Capital Retained Earnings Current Year Prior Year $ 50,720 42,850 49,750 $ 34,800 36,100 43,700 164,000 138,000 (39,600) (34,500) $267,720 $218,100 $40,050 $ 30,700 1,910 2,400 40,200 52,900 108,000 82,100 77,560 50,000 Income Statement (Current year) Sales Cost of Goods Sold Other Expenses Net Income $267,720 $218,100 $165,500 95,990 41,950 $ 27,560 Additional Data: a. Bought equipment for cash, $26,000. b. Paid $12,700 on the long-term note payable. c. Issued new shares for $25,900 cash.