During 2024, the following transactions occurred: 1. Sales of paninis for cash were $698,000, and sales of paninis on account were $60,000. 2. Purchases of ingredients were $188,000, all on account. 3. Collections from customers for sales on account totalled $19,300. 4. 5. 6. The company paid $48,300 for utilities expenses. Ingredients with a cost of $200,000 were used in paninis that were sold. Payments for ingredients purchased on account totalled $236,000. 7. The company paid $102,100 for wages. 8. A dividend of $37,600 was declared and paid at the end of the year.