Inventory: $ $ Beginning balance 42,000 Cost of goods sold 310,000 Accounts payable 292,000 Ending balance 24,000 334,000 334,000 Accounts payable: $ $ Cash 314,000*# Beginning balance 54,000 Ending balance 32,000 Inventory 292,000 346,000 346,000 Payment for services: $ Accrued liabilities, beginning balance 25,000 Prepaid expenses, ending balance 8,000 Selling and administrative expenses ($190,000 - depreciation 142,000 $ 48,000) 175,000 Accrued liabilities, ending balance (34,000) Prepaid expenses, beginning balance (16,000) Payment for services*** 125,000