The following events apply to Gulf Seafood for the 2018 fiscal year:

The company started when it acquired $19,000 cash by issuing common stock.

Purchased a new cooktop that cost $14,100 cash.

Earned $22,100 in cash revenue.

Paid $12,300 cash for salaries expense.

Adjusted the records to reflect the use of the cooktop. Purchased on January 1, 2018, the cooktop has an expected useful life of four years and an estimated salvage value of $2,300. Use straight-line depreciation. The adjusting entry was made as of December 31, 2018.