[The following information applies to the questions displayed below.] Assume that you are the president of Highlight Construction Company. At the end of the first year (December 31, 2014) of operations, the following financial data for the company are available: 25,200 Cash $ Receivables from customers (all considered collectible) 11,100 Inventory of merchandise (based on physical count and priced at 71,000 cost) Equipment owned, at cost less used portion 41,400 Accounts payable owed to suppliers 46,740 Salary payable for 2014 (on December 31, 2014, this was owed to an employee who was away because of an emergency; will return around January 10, 2015, at which time the payment will be made) 2,700 122,000 Total sales revenue Expenses, including the cost of the merchandise sold (excluding income taxes) 85,200 Income taxes expense at 30% pretax income; all paid during 2014 ? Common stock (December 31, 2014) 83,600 Dividends declared and paid during 2014 10,100 (Note: The beginning balances in Common stock and Retained earnings are zero because it is the first year of operations.)