More info On January 1, 2021, Sweet issued its common stock for \\( \\$ 575,000 \\). Early in January, Sweet made the following cash payments: a. \\( \\$ 200,000 \\) for equipment b. \\( \\$ 324,000 \\) for inventory (nine cars at \\( \\$ 36,000 \\) each) c. \\( \\$ 24,000 \\) for 2021 rent on a store building In February, Sweet purchased four cars for inventory on account. The cost of this inventory was \\( \\$ 192,000 \\) ( \\( \\$ 48,000 \\) per car). Before year-end, the company paid off \\( \\$ 153,600 \\) of this debt. The company uses the first-in, first-out (FIFO) method to account for its inventory. During 2021, Sweet sold ten autos for a total of \\( \\$ 650,000 \\). Before year-end, it had collected \80 of this amount. The business employs six people. The combined annual payroll is \\( \\$ 150,000 \\), of which Sweet owes \\( \\$ 9,000 \\) at year-end. At the end of the year, the company paid income taxes of \\( \\$ 13,000 \\). Late in 2021, Sweet declared and paid cash dividends of \\( \\$ 15,000 \\). For equipment, Sweet uses the straight-line depreciation method, over five years. with zero residual value. Sweet Motors, Inc., was formed on January 1, 2021. The following transactions occurred duing 2021: (Click the icon to view the transactions.) Road the cequitements