Cash Part 2 of 3 $ 25,600 Receivables from customers (all considered collectible) 10,800 Inventory of merchandise (based on physical count and priced at cost) 81,000 Equipment owned, at cost less used portion 42,000 Accounts payable owed to suppliers 46,140 12.5 points 00:47:53 Expenses, including the cost of the merchandise sold (excluding income taxes) Income tax expense at 30% pretax income; all paid during the current year a Common stock (December 31) Salary payable (on December 31, this was owed to an employee who will be paid on January 10) Total sales revenue 2,520 128,400 80,200 7 87,000 Dividends declared and paid during the current year 10,000 eBook Print References (Note: The beginning balances in Common stock and Retained earnings are zero because it is the first year of operations.) 2. Prepare a statement of stockholders' equity for the year. HIGHLIGHT CONSTRUCTION COMPANY Statement of Stockholders' Equity Mc Brow At December 31, Current Year Common Stock Retained Earnings Balance January 1, Current year Stock issuance Balance December 31, Current year