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 Inventory Equipment Accumulated Depreciation-Equipment Total Assets Accounts Payable Salaries and Wages Payable Notes Payable (long-term) Common Stock Retained Earnings Total Liabilities and Stockholders' Equity Income Statement Service Revenue Cost of Goods Sold Other Expenses Net Income Additional Data: a. Bought equipment for cash, $16,000. b. Paid $5,000 on the long-term notes payable. c. Issued new shares of stock for $11,000 cash. d. No dividends were declared or paid. Current Year Previous Year $31,850 33,000 $26,750 27,000 39,000 106,000 (28,000) $ 181,850 $ 34,000 1,050 37,000 90,000 (24,000) $ 156,750 $ 26,000 1,150 34,000 29,000 82,600 71,600 35,200 24,000 $ 156,750 $ 181,850 $110,000 65,000 33,800 $ 11,200 e. Other expenses included depreciation, $4,000; salaries and wages, $19,000; taxes, $5,000; utilities, $5,800. f Accounts Payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses assume that these expenses were fully paid in cash,