Question 6 Presented below is the trial balance of Sage Corporation at December 31, 2017 Debit Credit Cash Sales Debt Investments (trading) (cost, $145,000)154,220 Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable $ 198,550 $ 8,101,220 4,800,000 300,550 278,550 91,220 456,220 2,001,220 64,400 261,220 1,041,550 137,550 97,220 436,220 ccumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain (extraordinary) Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation Franchises Common Stock ($5 par) Treasury Stock Patents Retained Earnings Paid-in Capital in Excess of Par 152,000 26,220 901,400 212,400 598,550 81,400 901,550 601,220 1,001,550 -Equipment 60,000 160,000 1,001,220 192,220 195,000 79,550 81,550 $12,332,870 $12,332,870 Totals