Cash ? 900,000 Accounts receivable 300,000 120,000 Inventory 70,000 50,000 Total current assets ? 1,070,000 Land and Equipment 1,100,000 900,000 Accumulated depreciation on equipment (190,000) (70,000) 910,000 830,000 Total assets ? ? Accrued interest 3,000 2,000 Accounts payable 280,000 100,000 Unearned revenue 30,000 ? Total current liabilities 313,000 106,000 Bank loan 350,000 183,000 Total liabilities 663,000 289,000 Common stock 1,800,000 ? Retained earnings 532,000 238,000 Stockholders' equity ? ? Total liabilities and stockholders' equity ? ? Additional Information: During the year, XYZ collected $616,000 from customers, made cash sales of $396,000, and credit sales for $350,000. During the year, XYZ incurred cost of goods sold of $150,000, paid $34,000 in interest, and paid other administrative expenses of $65,000. During the year, XYZ sold one of its equipment for a loss of $50,000, and purchased a new piece of land for $400,000. The depreciation for the year on all equipment was $150,000. Required: 1. Calculate the missing values in XYZ's balance sheet. 2. Calculate net income for the year. 3. Prepare the cash flow statement for the year using the indirect method.