The cash flow statement shows that in the fiscal year ended December 31, 2013 the company had net cash from operations of $55,250. This was derived from net earnings of $50,000 plus depreciation of $2,000 and increases in accounts payable, taxes payable, offset by decreases in accounts receivable and increases in inventory. The company spent $20,000 on new equipment and took on $5,000 in new notes payable, resulting in a net increase in cash of $40,250 for the year. The opening balance sheet shows the company had total assets of $102,000, with current assets of $80,000 including $50,000 cash and $20,