Lock \& Key Inc, began operations on January 1, 2019. Its post closing trial balance at December 31, 2019 and 2020 , is shown below along with some other information. Other information regarding Lock \& Key Inc. and its activities during 2020 : 1. Assume all accounts have normal balances. 2. Cash dividends were declared and paid during the year. 3. Equipment was sold for cash equal to its book value. Other information: a. All accounts payable balances result from merchandise purchases. b. All sales are credit sales. c. All credits to accounts receivable are receipts from customers. d. All debits to accounts payable result from payments for merchandise. e. All other expenses are cash expenses