• ABC Inc. had two officers, Susan B. Smith - President, and John T. Williams - Treasurer. The officers were paid salaries of $350,000 and $250,000, respectively (and in addition to the $250,000 salaries expense above).
• ABC Inc. only has one asset subject to depreciation. It is a machine press that it purchased on June 28, 2018 for $100,000. ABC Inc. did not elect any 179 immediate expensing or bonus depreciation for the asset when it acquired it in 2018.
• ABC Inc. made a $30,000 cash distribution to its shareholders in 2019
• ABC Inc. made four, equal, timely estimated tax payments for 2019, of $12,000 each (hint: there is no estimated tax penalty). If there is any overpayment, ABC Inc. elects to apply it to the 2020 tax year.
• ABC Inc.'s only outstanding stock is Common.
• ABC Inc. had the following balance sheet assets as of 12/31/18 and 12/31/19

	12/31/18	12/31/19
Cash	$85,000	???
Accounts Receivable	$33,000	$22,000
Inventories	$200,000	$200,000
Fixed Assets	$100,000	$100,000
Accumulated Depreciation	($14,290)	???
Other Current Asset	-	$1,077
Total Assets	$403,710	???
Accounts Payable	$65,000	$52,000
Long-Term Loan Payable	$305,000	$255,000
Total Liabilities	$370,000	$307,000
Paid-In-Capital	$1,000	$1,000
Retained Earnings	$32,710	???
Total Liabilities & Equity	$403,710	???