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Ch 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 (current year) Sales Revenue Cost of Goods Sold Other Expenses Net Income $ 47,870 29,700 32,700 114,300 (37,800) $186,770 $ 26,800 770 41,000 84,500 33,700 $186,770 $ 19,500 32,000 39,000 105,000 (31,500) $164,000 $ 23,500 1,000 51,000 63,000 25,500 $164,000 $ 103,000 62,500 28, 200 $ 12,300 Additional Data: a. Bought equipment for cash, $9,300. b. Paid $10,000 on the long-term note payable. c. Issued new shares of stock for $21,500 cash. d. Declared and paid a $4,100 cash dividend. e. Other expenses included depreciation, $6,300; salaries and wages, $10,300; taxes, $3,300; utilities, $8,300. f. Accounts Payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes o other expenses. assume that these expenses were fully paid in cash. For the Year Ended December 31 Cash Flows from Operating Activities: Net Income $ 12,300 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: 0 12,300 Cash Flows from Investing Activities: Cash Flows from Financing Activities: Net Cash Provided by Financing Activities

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