GolfGear & More, Inc., is a regional and online golf equipment retailer. The company reported the following for the current year: Purchased a long-term investment for cash, $18,600. Pald cash dividend, $12,600. Sold equipment for $9,000 cash (cost, $27,000, accumulated depreciation, $18,000). Issued shares of no-par stock, 500 shares at $14 per share cash. Net income was $23,200. Depreciation expense was $3,600. Its comparative balance sheet is presented below. nces Cash Accounts receivable Merchandise inventory Investments Equipment Accumulated depreciation Total Accounts payable Wages payable Income taxes payable Notes payable Common stock and additional paid-in capital Retained earnings Total Balances Balances 12/31/Current 12/31/Prior Year Year 22,000 22,900 28,000 28,000 78,600 71,000 18,600 0 90,500 117,500 (18,200) (32.600) 219,500 206,800 $ 14,600 $ 20,000 2,100 3,700 5,700 3,600 60,000 60,000 107.000 100,000 30, 100 19,500 $ 219,500 $206,800 Required: 1. Complete a T-account worksheet. Cash Operating Investing