Ryan Company's current year income statement, comparative balance sheets, and additional information follow. For the year,

$(1)$ all sales are credit sales, $(2)$ all credits to Accounts Receivable reflect cash receipts from customers, $(3)$ all purchases of

inventory are on credit, $(4)$ all debits to Accounts Payable reflect cash payments for inventory, and $(5)$ Other Expenses are paid

in advance and are initially debited to Prepaid Expenses.