Accrued $11,200 for utilities, $11,200 for salaries, and $10,080 for interest on the bank loan. Recorded depreciation on equipment, which has an expected useful life of 10 years. Recorded an additional $56,000 of income tax payable. Common shares of $1,120 were issued during the year. $50,400 of the bank loan is due to be repaid in the next year. Accrued $11,200 for utilities, $11,200 for salaries, and $10,080 for interest on the bank loan. Recorded depreciation on equipment, which has an expected useful life of 10 years. Recorded an additional $56,000 of income tax payable. Common shares of $1,120 were issued during the year. $50,400 of the bank loan is due to be repaid in the next year