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mul ate completion. . Return to questiorn Antioch Company makes eBook readers. The company had the following amounts at the beginning of 2018: Cash $677000: Raw Materials Inventory, $54,000; Work in Process Inventory. $28,000; Finished Goods Inventory Common Stock, $588,000; and Retained Earnings, $226,000. Antioch experienced the following accounting events during 2018. Other than the adjusting entries for depreciation, assume that all transactions ar cash transactions. 1. Paid $29,000 of research and development costs 2. Paid $59,000 for raw materials that will be used to make eBook readers. ced $96,000 of the raw materials cost into the process of manufacturing eBook readers 4. Paid $73,000 for salaries of selling and administrative employees. 5. Paid $108,000 for wages of production workers. 6. Paid $68,000 to purchase equipment used in selling and administrative offices 7. Recognized depreciation on the office equipment. The equipment was acquired on January 1, 2018. It has a 18,000 salvage value and a five-year life. The amount of depreciation is computed as [(Cost - salvage)+ useful life). Specifically. ($68,000- $18,000) 5 $10,000 8. Paid $111000 to purchase manufacturing equipment. 9. Recognized depreciation on the manufacturing equipment. The equipment was acquired 10. Paid $63,000 for rent and utility costs on the manufacturing facility. 12. Completed and transferred eBook readers that had total cost of $253,000 from work in process inventory to 13. Sold 890 eBook readers for $421,000. on January 1, 2018. It has a $21,000 salvage value and a nine-year life. The amount of depreciation is computed as [(Cost - salvage) + useful life] Specifically, ($111,000 $21,000)+9 $10,000. of warehouse personnel, and other general storage cost). finished goods. 76,000 for inventory holding expenses for completed eBook readers (rental of warehouse space, salaries 14. It cost Antioch $178,000 to make the eBook readers sold in Event 13.