Sage Incorporated experienced the following transactions for Year $1,$ its first year of operations:

Issued common stock for $$100,000$ cash.

Purchased $$190,000$ of merchandise on account.

Sold merchandise that cost $$156,000$ for $$310,000$ on account.

Collected $$272,000$ cash from accounts receivable.

Paid $$170,000$ on accounts payable.

Paid $$56,000$ of salaries expense for the year.

Paid other operating expenses of $$72,000.$

Sage 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 $$22,8000\mathrm{.}01$

$0$ to $309,5000\mathrm{.}05$

$31$ to $601,9000\mathrm{.}10$

$61$ to $901,9000\mathrm{.}20$

Over $90$ days $1,9000\mathrm{.}50$

Required

Organize the transaction data in accounts under an accounting equation.

Prepare the income statement, statement of changes in stockholders$$ equity, balance sheet, and statement of cash flows for Sage Incorporated for Year $1.$

What is the net realizable value of the accounts receivable at December $31,$ Year $1?$