Following are the transactions of Dennen, Inc., for the month of January. The effect of these transactions is not included in the beginning balances shown. Borrowed $25,000 from a local bank. Lent $12,000 to an affiliate; accepted a note due in one year. Sold to investors 100 additional shares of stock with a par value of $0.10 per share and a market price of $8 per share; received cash. Purchased $14, 500 of equipment, paying $5, 500 cash and signing a note for the rest due in one year. Declared and paid $2,000 in dividends to stockholders