a$.$ On January $1,$ the company issued shares for $$68,000.$

b$.$ On January $1,$ the company borrowed $$63,000$ from the bank.

c$.$ On January $1,$ the company bought equipment for $$12,700$ cash.

d$.$ Purchases of inventory on account during the year totalled $$91,700.$

e$.$ Sales for the year totalled $$143,200,$ of which $$18,000$ was for cash and the remainder was on account.

f$.$ The cost of the products sold from inventory during the year in transaction $($e$)$ was $$82,100.$

g$.$ Payments to suppliers for inventory purchases totalled $$77,300$ during the year.

h$.$ Collections on account from customers totalled $$119,100$ for the year.

i$.$ Employees earned wages of $$54,700$ during the year. All of the wages were paid by the end of the year except the wages for the last week in December, which totalled $$2,500$

j$.$ On December $31,$ the company paid the interest on the bank loan in transaction $($b$).$ The interest rate is $8\%.$

k$.$ Dividends were declared and paid in the amount of $$2,400.$

I. On December $31,$ the company recorded depreciation on the equipment, using the straight$-$line method. The equipment had an estimated useful life of six years and an estimated residual value of $$1,270.$