completed comparative balance sheets and income statement are summarized as follows: Balance sheet at December 31 Cash Accounts receivable Merchandise inventory Property and equipment Current Year Prior Year $ 64,950 $ 63,900 15,950 23,150 209,750 23,150 18,300 150,800 Less: Accumulated depreciation Accounts payable Wages payable Note payable, long-term Common stock and additional paid-in capital Retained earnings Income statement for current year Sales Cost of goods sold Depreciation expense Other expenses Net income Additional Data: a. Bought equipment for cash, $58,950. b. Paid $10,900 on the long-term note payable. c. Issued new shares of stock for $33,400 cash. d. Dividends of $13,950 were declared and paid. e. Other expenses all relate to wages. (59,700) (46,050) $ 254,100 $ 210,100 $ 9,700 $ 19,900 2,700 3,100 61,000 71,900 99,600 66,200 81,100 49,000 $ 254,100 $ 210,100 $ 198,000 95,000 13,650 43,300 $ 46,050 f. Accounts payable includes only inventory purchases made on credit. For the Year Ended December 31, Current Year Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities: Cash flows from investing activities: Check my work 0 0 0 Cash flows from financing activities: < Prev 6 of 6 Next 0 0