Athletic Performance Company (APC) was incorporated as a private company. The companys accounts included the following at July 1:

Accounts Payable	$ 6,150
Buildings	214,000
Cash	10,850
Common Stock	321,000
Equipment	25,000
Land	87,000
Notes Payable (long-term)	17,500
Retained Earnings	0
Supplies	7,800

During the month of July, the company had the following activities:

1. Issued 2,200 shares of common stock for $220,000 cash.
2. Borrowed $40,250 cash from a local bank, payable in two years.
3. Bought a building for $187,000; paid $52,000 in cash and signed a three-year note for the balance.
4. Paid cash for equipment that cost $182,000.
5. Purchased supplies for $15,500 on account.

4. Prepare a trial balance at July 31. Include Retained Earnings on the balance sheet even though the account has a zero balance.