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 $ 33,440 28,400 27,600 37,600 96,000 34,200 40,200 115,000 Accumulated Depreciation-Equipment (29 200) (24,600) $ 193,640 $165,000 Accounts Payable Salaries and Wages Payable Note Payable (long-term) Common Stock Retained Earnings $ 35.200$ 26.600 1.600 40,000 72,200 24,600 1,440 34.400 86,200 36,400 $193,640 $165,000 Income Statement Sales Revenue Cost of Goods Sold Other Expenses $ 116,000 68,000 36,200 Net Income S 11,800 Additional Data a. Bought equipment for cash, $19.000 b. Paid $5,600 on the long-term note payable c. Issued new shares of stock for $14 000 cash