The accounts below appear in the ledger of Indigo Company. Retained Earnings Dr. Cr. Bal. Jan. 1, 2020 Credit Balance $42,300 Aug. 15 Dividends (cash) $15,200 27,100 Dec. 31 Net Income for 2020 $39,800 66,900 Equipment Dr. Cr. Bal. Jan. 1, 2020 Debit Balance $141,200 Aug. 3 Purchase of Equipment $61,700 202,900 Sept. 10 Cost of Equipment Constructed 48,000 250,900 Nov. 15 Equipment Sold $56,500 194,400 Accumulated Depreciation-Equipment Dr. Cr. Bal. Jan. 1, 2020 Credit Balance $84,200 Apr. 8 Major Repairs $21,200 63,000 Nov. 15 Accum. Depreciation on Equipment Sold 25,400 37,600 Dec. 31 Depreciation for 2020 $16,800 54,400