Pinnacle Incorporated was founded on January 1, 2013; since then, the company has been fairly successful; however, in an effort to save some money, the president has been keeping track of the financial records rather than hiring a professional accountant. Although some data is missing, a comparative report of year-end account balances appears below; unless otherwise noted, all numbers are as of December 31^st for each year after all transactions have been summarized in the accounting framework.

	2016		2015
Accounts receivable	?		940
Dividends	1,200		?
Payroll expense	23,200		19,700
Inventory	16,780		10,660
Equipment	67,800		64,300
Cash	18,600		22,600
Retained earnings, Dec. 31	26,330		25,300
Retained earnings, Jan. 1	?		18,400
Notes payable	24,300		19,200
Revenues	86,090		74,000
Capital	54,000		?
Selling and administrative expenses	4,240		3,650
Cost of Goods Sold	?		42,900

Required:

Prepare an income statement, statement of retained earnings and a balance sheet for each year and determine the missing values.

If $2,800 of equipment were sold during 2016, determine the dollar amount of equipment that must have been purchased during 2016.