Colorado Corporation was organized on Janu 1, 2006, with the investment of $250,000 in cash by its sto olders. The compan immediately purchased an office building for $300,000, a ' 210,000 in cash and si ' a three- ear romisso Boll;I1 or the balance. Colorado 533% a five-gear, I$60,000 ry promissory note at a local bank during 2006 and received cash in e same amount. During its rst year, Colorado collected $93,970 from its customers. It paid $65,600 for inventory, $20,400 in salaries and wages, and another $3,100 in taxes. Colorado paid $5,600 in cash dividends