Carla Vista Company began operations on January $1,2024.$ In its first year, the following transactions occurred:

Issued common shares for $$360,000$ cash.

Borrowed $$60,000$ from the bank for a five$-$year term.

Purchased equipment for $$240,000$ cash.

Purchased supplies, on account, for $$6,000.$

Sales on account amounted to $$120,000.$

Collected $$102,000$ from customers for services provided earlier.

Paid wages of $$36,000$ to employees.

Paid $$24,000$ for utilities $($telephone$,$ electricity, heat, & water$).$