Example #3: AB Corporation has the following for 2018: Net Income $150,000 Depreciation was $10,000 Sold Truck with a Cost of $30,000, Accumulated Depreciation $25,000 for $10,500 Cash. Sold Common Stock of $100,000 Paid a Dividend of $15,000 Balance Sheet Balances Cash Accounts Receivable Merchandise Inventory Prepaid Expenses Trucks Accumulated Depreciation - Trucks Accounts Payable Wages Payable Retained Earnings Common Stock 2018 563,000 180,500 333,000 7,500 120,500 (55,000) 275,000 44,500 285,000 545,000 2017 359,000 130,000 280,000 15,500 150,500 (70,000) 222,000 48,000 150,000 445,000 Example #3: AB Corporation has the following for 2018: Net Income $150,000 Depreciation was $10,000 Sold Truck with a Cost of $30,000, Accumulated Depreciation $25,000 for $10,500 Cash. Sold Common Stock of $100,000 Paid a Dividend of $15,000 Balance Sheet Balances Cash Accounts Receivable Merchandise Inventory Prepaid Expenses Trucks Accumulated Depreciation - Trucks Accounts Payable Wages Payable Retained Earnings Common Stock 2018 563,000 180,500 333,000 7,500 120,500 (55,000) 275,000 44,500 285,000 545,000 2017 359,000 130,000 280,000 15,500 150,500 (70,000) 222,000 48,000 150,000 445,000