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balance sheet of this Assume the following: Infinity Engineering Company had the following transactions: begin{tabular}{|c|c|} hline Jan-01 & Issued capital stock for $975,000. hline

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Assume the following: Infinity Engineering Company had the following transactions: \begin{tabular}{|c|c|} \hline Jan-01 & Issued capital stock for $975,000. \\ \hline Jan-01 & Purchased a Packaging Equipment for $21,000 \\ \hline Jan-03 & PurchasedaMachine,paying$9,000incashandissuinganoteof$20,500. \\ \hline Jan-05 & Purchased $26,000 of inventory on account. \\ \hline Jan-07 & Sold inventory costing $4,500 for $55,000 on account. \\ \hline Jan-11 & Paid $1,300 for inventory purchased on account (from Jan-05). \\ \hline Jan-15 & Collect $15,650 of accounts receivable from customers (from Jan-07). \\ \hline Jan-17 & Paid utility bills totaling $3,000. \\ \hline Jan-23 & Paid wages for $11,000. \\ \hline Jan-25 & Collect $3,500 in bank interest. \\ \hline an-30 & Paid $12,570 due to income taxes. \\ \hline \end{tabular}

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