Strods Comporation's current year income statement, comparattve balance sheots, and additional informatton foliow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Recelvable reflect cash recelpts from customers, (3) all purchases of Irvertory are on credit, (4) all debits to Accounts Payable reflect cash payments for Inventory, (5) Other Expenses are all cash expenses, and (6) ary change In Income Taxes Payable reflects the accrual and cash payment of taxes. Additional Information on Current Year Transactions a. Purchased equipment for $52000 cash. b. Issued 27,000 shares of common stock for $5 cash per share. c. Declared and paid $76,270 in cash dividends