Required information [The following information applies to the questions displayed below.] One Product Corporation (OPC) incorporated at the beginning of last year. The balances on its post-closing trial balance prepared on December 31, at the end of its first year of operations, were: Cashi Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Rent Equipment Accumulated Depreciation 20,150 8,220 925 12,060. 1,680 29,800 2,880 Accounts Payable Sales Tax Payable FICA Payable Withheld Income Taxes Payable Salaries and Wages Payable Unemployment Tax Payable Deferred Revenue Interest Payable Notes Payable (long-term) Common Stock Additional Paid-In Capital, Connon Retained Earnings Treasury Stock e 500 600 500 1,600 300 4,500 504 22,400 14,300 19,401 7,500 4,000 The following information is relevant to the first month of operations in the following year: . OPC sells its inventory at $150 per unit, plus sales tax of 6 percent. OPC's January 1 inventory balance consists of 180 units at a total cost of $12.060. OPC's policy is to use the FIFO method, recorded using a perpetual inventory system The $1,680 in Prepaid Rent relates to a payment made in December for January rent this year. The equipment was purchased on July 1 of last year. It has a residual value of $1,000 and an expected life of five unare le hainn denrocistad seine the etrainht linn method