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 Note Payable (long-term) Common Stock Retained Earnings Total Liabilities and Stockholders' Equity Income Statement Sales Revenue Cost of Goods Sold Other Expenses Net Income Current Year Previous Year $ 29,500 28,200 $ 34,480 35,400 41,400 124,000 (30,400) $204,880 38,200 102,000 (25,200) $172,700 $ 27,200 $ 36,400 1,280 1,500 39,800 46,000 89,800 72,800 37,600 25,200 $204,880 $172,700 $122,000 71,000 38,600 $ 12,400