Based on the following transactions, answer the following questions. i. Purchased inventory with a cost of $28,300 on account. ii. Sales on account to customers totalled $54,700. iii. Payments made to employees for wages totalled $19,600. iv. Cash collections from customers settling their accounts totalled $49,500. V. Invoice received from the utility company for $6,100 is due in 30 days. vi. Payments totalling $19,500 were made to suppliers to settle part of the balance owing to them. vii. Received a deposit of $1,800 from a customer for goods to be delivered next month.