Heines Clocks is a retailer of wall, mantle, and grandfather clocks and is located in the Empire Mall in Sioux Falls, South Dakota. Assume that a grandfather clock was sold for $18,500 cash plus 4 percent sales tax. The clock had originally cost Heines $14,500. Assume Heines uses a perpetual inventory system.

1.	Indicate the effects of the amounts for the above transactions. (Enter any decreases