The following information applies to the questions displayed below.] The general ledger ofthe Karlin Company, a consulting company, at January 1, 2016, contained the following account balances: Debits Credits Account Title Cash 33,500 Accounts receivable 10,000 Equipment 15,000 4,500 Accumulated depreciation 6,000 Salaries payable Common stock 41,000 7,000 Retained earnings Total 58,500 58,500 The following is a summary of the transactions for the year: a. Sales of services, $102,000, of which $30,600 was on credit. b. Collected on accounts receivable, $22,000. c. Issued shares of common stock in exchange for $7500 in cash. d. Paid salaries, $37,000 (of which $6,000 was for salaries payable). e. Paid miscellaneous expenses, $20,000 Purchased equipment for $10,000 in cash. g. Paid $2,425 in cash dividends to shareholders. 1. Accrued salaries at year-end amounted to $740. 2. Depreciation for the year on the equipment is $1,500