Required information [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. Additional Information a. \\( A \\$ 30,000 \\) note payable is retired at its \\( \\$ 30,000 \\) carrying (book) value in exchange for cash. b. The only changes affecting retained earnings are net income and cash dividends paid. c. New machinery is acquired for \\( \\$ 57,600 \\) cash. d. Received cash for the sale of machinery that had cost \\( \\$ 48,600 \\), yielding a \\( \\$ 2,000 \\) gain. e. Prepaid Expenses and Salaries Payable relate to Operating Expenses on the income statement. f. All purchases and sales of inventory are on credit. Required: d December 31, Year 2