msactions occurred during 2018: More Info On January 1, 2018, Stylistic issued its common stock for $510,000. Early in January Stylistic made the following cash payments: a. $220,000 for equipment b. $243,000 for inventory (nine cars at $27,000 each) c. $25,000 for 2018 rent on a store building In February, Stylistic purchased three cars for inventory on account. The cost of this Inventory was $117,000 ($39,000 per car). Before year-end, the company paid off $46,800 of this debt. The company uses the first-in, first-out (FIFO) method to account for its inventory. During 2018, Stylistic sold eleven autos for a total of $649,000. Before year-end, it had collected 50% of this amount. The business employs two people. The combined annual payroll is $151,000, of which Stylistic owes $7.000 at year-end. At the end of the year, the company paid income taxes of $22,000. Late in 2018, Stylistic declared and paid cash dividends of $10,000 For equipment, Stylistic uses the straight-line depreciation method, over five years. with zero residual value. 31, 201 Print Done ht.name otors, Inc. and then continue to the next question DRC DOO DD FA F5 FB MD $ NE 1 3 5 6 7 8 9 o W R T y u 0 D S F G . 3 L A > N C V N B M shtet 2018 Chand och Mine December 31, 2018 74 MI NE C D 0 7 UD 8 3 1 0 Y E W Q R J G D F H S V > B N . N V C 36 H Command option Control option command to Chinderthod adul December 11, 2018 : s 5 7 2 3 6 0 Q $ E R T Y U S D F G H J L A N V B N. M 1 26 at command option tra option command CO . - 5 4 56 5 00. 1 2 3 6 9 w E R T Y U 1 0 D F S G K J L . V C Z V B M N