10.0 nts Problem 21-2 Statement of cash flows; direct method [LO21-3, 21-8] The comparative balance sheets for 2016 and 2015 and the statement of income for 2016 are given below for Wright Company. Additional information from Wright's accounting records is provided also WRIGHT COMPANY Comparative Balance Sheets December 31, 2016 and 2015 S in 000s) 2016 Assets S 114 $ 100 142 145 50 16 145 140 106 130 710 540 (199) (145) Accounts receivable Short-term investment Buildings and equipment $1,068 $ 926 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Shareholders Equity Common stock Paid-in capital-excess of par Retained eamings $ 42 $ 49 7 11 0 34 308 240 405 340 190 170 104 69 $1,068 $ 926 WRIGHT COMPANY Income Statement For Year Ended December 31, 2016 (S in 000s) Revenues Sales revenue $600 Expenses: Cost of goods sold Salaries expense Depreciation expense Interest expense Loss on sale of land Income tax expense $270 54 17 89 500 Net income $100