Account Amount Debit Credit Cash $222,000 $222,000 Merchandise Inventory (12/31/2020) 100,000 100,000 Equipment 120,000 120,000 Accounts Receivable 105,000 105,000 Common Stock (5.50 par) 350,000 350,000 Sales 875,00 875,000 Rent Expense 67,000 67,000 Bonds Payable (due 2050) 120,000 120,000 Accounts Payable 27,000 27,000 Dividends 10,000 10,000 Treasury Stock, Common (19,000 shares) 42,000 42,000 10,000 10,000 Treasury Stock, Common (19,000 shares) 42,000 42,000 Preferred Stock 6% ($10 par) 85,000 85,000 Land 260,000 260,000 Paid-in Capital in Excess of Par Value, Preferred 8,000 8,000 Cost of Goods Sold 720,000 720,000 Interest Expense 20,000 20,000 Unearned Revenue 18,000 18,000 Paid-in Capital from Treasury Stock Transactions, Common 56,000 56,000 Allowance for Doubtful Accounts 5,000 5,000 Operating Expenses 95,000 95,000 Accumulated Depreciation- Equipment 30,000 30,000 Paid-in Capital in Excess of Par Value, Common 117,000 117,000 Retained Earnings (1/1/2020) 70,000 70,000 TOTALS $3,552,000 $1,761,000 $1,761,000 HINT: PREPARE A COMPLETE SET OF INANCIAL STATEMENTS AND THEN ANSER THE QUESTIONS The total assets on the December 31, 2020 balance sheet would be: A $800,000 . $772,000 $807,000 D. None of the above. E. $814,000 HINT: PREPARE A COMPLETE SET OF FINANCIAL STATEMENTS AND THEN ANSER THE QUESTIONS If Sara were to declare and distribute a 100% stock dividend to shareholders on January 1, 2022 at a time where the market price of the common stock was $10 per share, the amount of retained capitalized would be: $700,000 B.57,000,000 OC $3,500,000 D. None of the above. $350,000 E