Frontier Rare Coins (FRC) was formed on January 1, 2004. Additional data for the year follow (Click the icon to view the data) Road the moments Merchandise Inventory 175,000 Accounts Payable Accounts Receivable Sales Payable Cash Total Current Asses Store Fortures Property, Plant, and Equipment Less Accumulated Depreciation $ 50.000 Total Cunure Liabilit Stockholders' Equity Common Stock Retained Eamings More info On January 1, 2004, FRC and no pr cannon stock for $625,000 Early in January, FRC made the folowing cap For store free, 10,000 2 For merchandise inventory, $260,000 For rent expense on a slow bung $12,000 Later in the year, FRC purchased merchandise invertory on account for $236,000. Before year end. FRC pad $14,000 of the accounts payatie d. During 2004, FRC said 2,100 units of merchandise invertory or $400 each before year end, the company collected 85% of this amart Cast of goods sold for the year was $320,000, and ending merchandise inwestory totaled $175,000 The store employs the people. The combined annual payroll is $00 000, of which FRC $2,000 at your end t. At the end of the year, FRC paid income tax of $21,000 There are no income taxes 2024, FRC paid cash dividends of 500,000 Total Assets Total Stockholders' Equity Total Liabilities and Stockholders' Equity lculator Media Print Done Frontier Rare Coine (FRC) was formed on January 1, 2004 Additional data for the year lofow (Click the icon to view the data) Read the auments More info On January 1, 2004, FC Early in January, Cadet y Merchandise Inventory $175,000 Accounts Receivable Cash Total Cument Assets Property, Plant, and Equipment Store Fixtures Less Accumulated Depreciation Total Assets $ 50,000 Luming Les Accounts Payable Salates Payable Total C Lablines Stockholders' Equity Common Stock Retained Earring Total Stockholders Equity Total Liabilities and Stock Egity ck by $25,000 2 Forst 500000 for these iyon 1 Lar in the y FC pechad wwwby in the m nd FC During 2004, FRE marchande ray be $400 your was 300.000, and ending t amour Cat of goods at he 175,000 The FRC Attend of the year FC pad come tax of $21,000. The a Latein 2004, FRC ad cash dviders of $40,000 Print Done