Begin with the following account balances for University Street Parking Garage (assume all accounts have normal balances) at December 19, 2019.

Accounts payable $ 16,700 Accounts receivable 39,200 Accumulated depreciation (equipment) 36,800 Cash 6,700 Common stock (20,000 shares) 100,000 Depreciation expense (equipment) 12,300 Dividends 6,300 Equipment 269,500 Income taxes expense 2,700 Income taxes payable 1,100 Interest expense 16,500 Interest payable 0 Interest income 4,100 Inventory 4,900 Investments 35,000 Notes payable (due May 2, 2025) 160,000 Prepaid rent (4 months) 36,400 Rent expense 94,400 Retained earnings, 12/31/2018 43,000 Service revenue, parking 224,600 Service revenue, repair 208,100 Supplies expense 36,900 Wages expense 233,600 Wages payable 0