The GIJoe Company started its operations in 2014. Two years later, the balance sheet for December 31, 2015, showed the following account balances (there were no other accounts listed): Wages payable 6, Loan made to the ABC company 50, Paid in capital 500, Accounts payable 50, PP&E 200, Inventory 59, Cash 400, Advances from customers 40, Accumulated depreciation 30, Accounts receivables 93, Retained earnings During 2016 the following transactions occurred 2. 3. 4. 5. Depreciation expense was $20. Insurance expenses were $25, all paid in cash. Rent for 18 months, starting January 1, 2016, in the amount of $36, was paid in cash. Sales, all on credit, were $753 Collections from customers were $777.