Comparative balance sheet data for Tanzanite Imporium follow. In addition, new equipment was purchased for $60,000, payment consisting of $40,000 cash and a long-term note for $20,000. The short-term note payable was arranged with a supplier to finance inventory purchases on credit. Cash dividends of $15,000 were paid in 2013; all other changes to retained earnings were caused by the net income for 2013, which amounted to $92,200.