Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Debits Credits $18,000 7,600 3,600 13,000 $ 4,200 6,200 23,000 8,800 $42,200 $42,200 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $56,000, of which $20,600 is on account. 2. May 3. June 4. August 2 Collect on accounts receivable, $17,600. 30 Issue shares of common stock in exchange for $5,000 cash. 1 Pay salaries of $6,200 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $12,600. 6. October 19 Purchase equipment for $7,600 cash. 7. December 30 Pay $1,000 cash dividends to stockholders.