The following account balances are for the Agee Company as of January 1, 2020, and December 31, 2020. All amounts are denominated in kroner (Kr). Accounts payable Accounts receivable January 1, 2020 (19,000) December 31, 2020 (32,000) 50,000 100,000 Accumulated depreciation-buildings (41,000) (46,000) Accumulated depreciation-equipment (7,100) Bonds payable-due 2023 (60,000) (60,000) Buildings 130,000 103,000 Cash Common stock 56,000 10,100 (65,000) (77,000) Depreciation expense 36,000 Dividends (10/1/20) 53,000 Equipment 60,000 Gain on sale of building (8,100) Rent expense 20,100 Retained earnings (51,000) (51,000) Salary expense Sales Utilities expense 41,000 (147,000) 5,000 Additional Information Agee issued additional shares of common stock during the year on April 1, 2020. Common stock at January 1, 2020, was sold at the start of operations in 2013. Agee purchased buildings in 2014 and sold one building with a book value of Kr 3,100 on July 1 of the current year. Equipment was acquired on April 1, 2020. Relevant exchange rates for 1 Kr were as follows: