Sharp Screen Films, Inc., is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows: Current Year Prior Year Balance sheet at December 31 Cash Accounts receivable Merchandise inventory Property and equipment Less: Accumulated depreciation Accounts payable Wages payable Note payable, long-term Connd stock and additional paid-in capital Retained earnings $ 66,55 18.158 24,750 212,250 (61,580) $ 260, 280 $ 11,800 4.500 62.383 102,000 79,600 $ 260,200 5 65,580 24,750 19,200 152,600 (47,050) $215,880 $ 21,900 5,100 74,400 67,000 46,600 $215,000 Income statement for current year Sales Cost of goods sold Depreciation expense Other expenses Net Income $206,000 103,000 14.450 Additional Data . Bought equipment for cash, $59.650. b. Paid $12.100 on the long-term note payable c.Issued new shares of stock for $35.000 cash d Dividends of $11.450 were declared and paid. e Other expenses all relate to wages f Acuts navnhle includes only invertor Maderart