(Steven's Bikes began operations in April 2017 and had the following transactions.

a)Owner invested $120,000 cash and a truck worth $36,000 in exchange for stock.

b)Paid $84,000 cash for 6 months' rent.

c)Purchased $300,000 of bicycle inventory on credit.

d)Sold bicycles for cash of $507,000. The cost of the bikes sold was $180,000.

e)Sold and invoiced bicycles to a client for $95,400. The cost of the bikes sold was $48,000.

f) Paid $90,000 cash for an advertising campaign in connection with Tour de France. The campaign will run over the next two of months.

g)Paid $24,000 in cash for supplies to have on hand for bike repairs.

h)Collected $60,000 from accounts receivable.

i)Paid for bikes purchased on credit in Transaction c above.

j)Paid cash dividends of $3,000.

k)Received $6,000 cash from a customer as a deposit for a custom bicycle to be built.

\fBalance Sheet A Income Statement Transaction Cash + Noncash Llabil- Asset Assets + Contrib Earned + Rev- Expen- Net Itles Capital E Capital enues. ses Income ii. ili. iv. V