Beginning Balances as of Dec 31, Year 1 Paid a $42.000 cash dividend previously 1 declared for stockholders Paid wages payable accrued in previous 2 month Acquired $150.000 by signing a note payable 3 with a local bank Sold 5,000 shares of $5 par Common Stock for $110,000 Sold 2,000 shares of $40 par, 3% cumulative spreferred stock for $120,000 Purchased a truck and piece of Equipment for $128,000. The truck has a market value of 65.000 and the equipment has a market value of 95.000. Purchased 25,000 Units of Inventory on Account for $8.15 per unit Sold 45,000 units at $24.50 on Account- Revenue COGS on sale of 45000 units 10 Collect $570,000 on Account 11 Paid $540,250 of Accounts Payable Purchased 70,000 Units of Inventory on 12 Account for $8.50 per unit 13 Sold 75,000 units at $24.50 on Account Record COGS for Sales of 75,000 units on Account 14 15 Collect $1.472.500 on Account 16 Paid $438,500 of Accounts Payable Purchased 115,000 Units of inventory on 17 Account for $9.35 per unit 18 Sold 102,000 units at $24.50 19 Record COGS for Sale of 102.000 units 20 Collect $735,000 on Account 21 Paid $883,150 of Accounts Payable Purchased 175.000 Units of Inventory on 22 Account for $8.75 per unit Paid Advertising and Marketing Expenses of 23 $130.000 24 Paid Fixed Operating Expenses of $275,708 25 Paid Wages of $1.235.000 26 Record Wages Payable of $215,000 Paid Product Line Research & Development 227 Expenses of $450,000 328 Principle & Interest on Note Payable 429 Year 1 Depreciation on Truck 530 Year 1 Depreciation on Equipment 1 Year 2 Depreciation on Building 732 Common Stock Dividend Declaration 33 Preferred Stock Dividend Declaration Balance at December 31, Yr 2 9 $ $