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:

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 Balance sheet at December 31 Merchandise inventory Property and equipment Accounts payable Wages payable Note payable, long-term Contributed capital Retained earnings Income statement for current vear Cost of goods sold Depreciation expense Other expenses Net income