Assume that you are the president of Highlight Construction Company. At the end of the first year (December 31, 2014) of operations, the following financial data for the company are available:

Cash	$	25,900
Receivables from customers (all considered collectible)		12,400
Inventory of merchandise (based on physical count and priced at cost)		77,000
Equipment owned, at cost less used portion		41,100
Accounts payable owed to suppliers		48,140
Salary payable for 2014 (on December 31, 2014, this was owed to an employee who was away because of an emergency; will return around January 10, 2015, at which time the payment will be made)		3,100
Total sales revenue		134,000
Expenses, including the cost of the merchandise sold (excluding income taxes)		88,200
Income taxes expense at 30%