a. On January 1, 2024, NRRC issued no par common stock for $550,000. b. Early in January, NRRC made the following cash payments: 1. For store fixtures, $55,000 2. For merchandise inventory, $280,000 3. For rent expense on a store building, $19,000 c. Later in the year, NRRC purchased merchandise inventory on account for $234,000. Before year-end, NRRC paid $144,000 of this accounts payable. d. During 2024, NRRC sold 3,100 units of merchandise inventory for $425 each. Before year-end, the company collected 80% of this amount. Cost of goods sold for the year was $260,000, and ending merchandise inventory totaled $254,000. e. The store employs three people. The combined annual payroll is $80,000, of which NRRC still owes $6,000 at year-end. f. At the end of the year, NRRC paid income tax of $18,000. There are no income taxes payable. g. Late in 2024, NRRC paid cash dividends of $38,000. h. For store fixtures, NRRC uses the straight-line depreciation method, over five years, with zero residual value. Reauirement 3. Prebare NRRC's balance sheet at December 31. 2024