Klinger Corporations balance sheet at December 31, 2013, is presented below.

KLINGER CORPORATION Balance Sheet December 31, 2013
Cash		$25,720			Accounts payable		$25,740
Accounts receivable		45,580			Common stock ($10 par)		81,600
Allowance for doubtful accounts		(1,570	)		Retained earnings		137,120
Supplies		4,590
Land		43,640
Buildings		149,000
Accumulated depreciationbuildings		(22,500	)
		$244,460					$244,460

During 2014, the following transactions occurred.

1.		On January 1, 2014, Klinger issued 1,500 shares of $50 par, 8% preferred stock for $76,500.
2.		On January 1, 2014, Klinger also issued 820 shares of the $10 par value common stock for $24,700.
3.		Klinger performed services for $329,000 on account.
4.		On April 1, 2014, Klinger collected fees of $37,200 in advance for services to be performed from April 1, 2014, to March 31, 2015.
5.		Klinger collected $279,000 from customers on account.
6.		Klinger bought $35,700 of supplies on account.
7.		Klinger paid $32,000 on accounts payable.
8.		Klinger reacquired 400 shares of its common stock on June 1, 2014, for $26 per share.
9.		Paid other operating expenses of $187,900.
10.		On December 31, 2014, Klinger declared the annual preferred stock dividend and a $1.00 per share dividend on the outstanding common stock, all payable on January 15, 2015.
11.		An account receivable of $1,700 which originated in 2013 is written off as uncollectible.

Adjustment data:

12.		A count of supplies indicates that $5,700 of supplies remain unused at year-end.
13.		Recorded revenue from item 4 above.
14.		The allowance for doubtful accounts should have a balance of $3,400 at year end.
15.		Depreciation is recorded on the building on a straight-line basis based on a 30-year life and a salvage value of $14,000.
16.		The income tax rate is 30%. (Hint: Prepare the income statement up to income before taxes and multiply by 30% to compute the amount.)

Prepare a balance sheet.