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

Accounts Payable	$ 6,600
Buildings	209,000
Cash	12,850
Common Stock	310,000
Equipment	20,250
Land	106,500
Notes Payable (long-term)	40,250
Retained Earnings	0
Supplies	8,250

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

1. Issued 2,600 shares of common stock for $260,000 cash.
2. Borrowed $41,000 cash from a local bank, payable in two years.
3. Bought a building for $182,500; paid $49,500 in cash and signed a three-year note for the balance.
4. Paid cash for equipment that cost $166,000.
5. Purchased supplies for $17,400 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.