XS supply

XS Supply Company is developing its annual financial statements at December 31, 2014. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: 2014 2013 Balance sheet at December 31 35,900 30,500 Cash 38,200 30,900 Accounts receivable Merchandise inventory 43,000 39,600 Property and equipment 124,600 101,800 Less: Accumulated depreciation (33,000) (26,500) 208,700 176,300 Accounts payable 39,200 30,400 Wages payable 2,800 3,700 Note payable, long-term 52,600 46,300 93,100 74,200 Contributed capital 15,400 Retained earnings 27,300 208,700 176,300 Income statement for 2014 133,000 Sales Gain on sale of equipment 2,000 83,000 Cost of goods sold 40,100 Other expenses 11,900 Net income