Guarlic corporation a merchandiser, recently completed its calendar-year 2015 operations, For the year, all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, all purchases of inventory are on credit, (4) all debits to Account Payable reflect cash payments for inventory, and (5) other Expenses are paid in advance and are initially debited to prepaid Expenses. The company's balance sheets and income statement follow. Additional information on Year 2015 Transactions a. The loss on the cash sale of equipment was $2,100 (details in b). Sold equipment costing $51,000, with accumulated depreciation of $22,850, for $26,050 cash. c. Purchased equipment costing $113,250 by paying $43,250 cash and signing a long-term note payable for the balance. d. Borrowed $5,000 cash by signing a short-term note payable. e. Paid $47,500 cash to reduce the long-term notes payable. f, Issued 3,000 shares of common stock for $15 cash per share. Declared and paid cash dividends of $ 53,600