Required information Skip to question [The following information applies to the questions displayed below.] The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2023. Account Title Debits Credits Cash $ 4,900 Accounts receivable 1,900 Inventory 4,900 Equipment 10,900 Accumulated depreciation $ 3,400 Accounts payable 2,900 Accrued liabilities 0 Common stock 8,000 Retained earnings 8,300 Sales revenue 0 Cost of goods sold 0 Salaries expense 0 Rent expense 0 Advertising expense 0 Dividends 0 Totals $ 22,600 $ 22,600 The following transactions occurred during January 2024: January 1 Sold inventory for cash, $3,400. The cost of the inventory was $1,900. The company uses the perpetual inventory system.January 2Purchased equipment on account for $5,400 from the Strong Company. The full amount is due in 15 days.January 4Received a $100 invoice from the local newspaper requesting payment for an advertisement that Whitlow placed in the paper on January 2.January 8Sold inventory on account for $4,900. The cost of the inventory was $2,700.January 10Purchased inventory on account for $9,450.January 13Purchased equipment for cash, $700.January 16Paid the entire amount due to the Strong Company.January 18Received $3,900 from customers on account.January 20Paid $700 to the owner of the building for Januarys rent.January 30Paid employees $2,900 for salaries for the month of January.January 31Paid a cash dividend of $800 to shareholders.