Roth Inc. experienced the following transactions for year 1, its first year of operations:

1. Issued common stock for $50,000 cash.
2. Purchased $140,000 of merchandise on account.
3. Sold merchandise that cost $110,000 for $250,000 on account.
4. Collected $236,000 cash from accounts receivable.
5. Paid $118,000 on accounts payable.
6. Paid $50,000 of salaries expense for the year.
7. Paid other operating expenses of $28,000.
8. Roth adjusted the accounts using the following information from an accounts receivable aging schedule:

Number of Days Past Due	Amount			Percent Likely to Be Uncollectible	Allowance Balance
Current	$	10,000		0.01
030		2,000		0.05
3160		1,200		0.10
6190		500		0.20
Over 90 days		300		0.50

Required for question:

Step A: Journal form and T posts

Step B: Prepare the income statement, statement of changes in stockholders equity, balance sheet, and statement of cash flows for Roth Inc. for year 1

Step c: What is the net realizable value of the accounts receivable at December 31, year 1?