Additional Information on Current Year Transactions

a$.$ The loss on the cash sale of equipment was $$5,900($details in $b).$

b$.$ Sold equipment costing $$52,000,$ with accumulated depreciation of $$35,000,$ for $$11,100$ cash.

c$.$ Purchased equipment costing $$112,000$ by paying $$34,000$ cash and signing a long$-$term note payable for the balance

d$.$ Borrowed $$6,000$ cash by signing a short$-$term note payable.

e$.$ Paid $$58,000$ cash to reduce the long$-$term notes payable.

f$.$ Issued $3,300$ shares of common stock for $$20$ cash per share.

g$.$ Declared and paid cash dividends of $$89,100.$ Ryan Company's current year income statement, comparative balance sheets, and additional information follow. For the year,

$(1)$ all sales are credit sales, $(2)$ all credits to Accounts Receivable reflect cash receipts from customers, $(3)$ all purchases of

inventory are on credit, $(4)$ all debits to Accounts Payable reflect cash payments for inventory, and $(5)$ Other Expenses are paid

in advance and are initially debited to Prepaid Expenses.