PLS HELP ASAP!

Soft Touch Company was started several years ago by two golf instructors. The companys comparative balance sheets and income statement are presented below, along with additional information.

Additional Data:

a.	Bought new golf clubs for $3,300 cash. Sold existing clubs that cost $2,000 and had Accumulated Depreciation of $530 at the time of sale at a loss of $470.
b.	Borrowed $2,300 cash from the bank during the year.
c.	Accounts Payable includes only purchases of services made on credit for operating purposes. Because there are no liability accounts relating to income tax, assume that Income Tax Expense was fully paid in cash.

Current Previous Year year Balance Sheet at December 31 Cash Accounts Receivable Equipment Accumulated Depreciation Equipment $13,920 8,750 3,800 10,000 (3,210 (2,800) 2,800 11,300 $24,810 $19,750 Accounts Payable Salaries and Wages Payable Note Payable (long-term) Common Stock Retained Earnings $1,300 2,300 1,650 1,000 10,000 10,000 4,800 1,120 3,300 9,090 $24,810 $19,750 Income Statement Service Revenue Salaries and Wages Expense Depreciation Expense Loss on Disposal of Equipment Income Tax Expense $76,200 69,500 940 470 1,000 Net Income $4,290 Additional Data a. Bought new golf clubs for $3,300 cash. Sold existing clubs that cost $2,000 and had Accumulated Depreciation of $530 at the time of sale at a loss of $470 b. Borrowed $2,300 cash from the bank during the year c. Accounts Payable includes only purchases of services made on credit for operating purposes. Because there are no liability accounts relating to income tax, assume that Income Tax Expense was fully paid in cash